H&M sales weighed down by war after strong start to year

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DPA

Swedish fashion giant H&M saw its recovery from coronavirus lockdowns slow in March due to the new uncertainties and disruptions created by Russia’s invasion of Ukraine. The pandemic’s worrying trend in China is also dampening prospects for an accelerated recovery, the retailer said in its first quarter earnings report, which was released on Thursday. After a buoyant start to the year, the company warned sales slowed noticeably as March drew to a close. March 1 to March 28 sales grew 6% compared the same time last year. In the first fiscal quarter, which runs from December to February, H&M had…

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