Website maintenance:

We will carry out maintenance on the website for a period to come. We apologize in advance for any problems this may cause. If you are unable to access the website it is probably due to updates. Please try to re-enter the website in 10 minutes time. Sincerely, The Web Development team!

Strong decline in profits for Hennes & Mauritz

A Hennes & MauritzA Hennes & Mauritz (H&M) store logo is seen in Nice.Photo. REUTERS/Eric Gaillard

The  profits of clothes chain Hennes & Mauritz in the first quarter was nearly 30 percent lower than last year – but still better than expected.
Profit before tax from December to February was at 3.3 billion Swedish kronor, the company informed Tuesday. In the same period in 2015, the result was 4.7 billion.
One reason for the decline is the previous year’s high dollar exchange rate. In addition, Hennes & Mauritz struggled to sell winter clothing after the warm autumn last year.
The analysts had expected in advance of the publication of the figures  that the result would be even lower. The sales rose to 43.7 billion from 40 billion in the same period in 2015.

 

Source: NTB scanpix / Norway Today

Be the first to comment on "Strong decline in profits for Hennes & Mauritz"

Leave a comment

Your email address will not be published.


*