H&M misses profit forecasts on costs

first_img whatsapp Thursday 31 March 2011 7:58 pm H&M misses profit forecasts on costs HENNES & MAURITZ, the world’s No.2 fashion retailer, missed first-quarter profit and sales forecasts, raising doubts over its strategy of holding prices despite rising cotton costs and currency headwinds.The Swedish budget clothing chain posted a 30 per cent dive in pre-tax profit to 3.54bn crowns (£348m) for the three months ended February.This was the third quarter it missed forecasts, pitched at 3.84bn crowns.Data showed an unexpected fall in February retail sales in Germany, H&M’s biggest market. KCS-content Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Tags: NULL Share whatsapplast_img read more