Sunday August 9, 2020

H&M's first quarter misses estimates

Swedish clothing retailer H&M has missed earnings forecasts in the first quarter.

29th March, 2012

Swedish clothing retailer H&M has missed earnings forecasts in the first quarter.

The company reported a 13 percent rise in sales in local currencies in the first quarter. Sales in comparable units increased by three percent.

However its gross margin dropped to 55.8 per cent from 57.8 per cent due to increased purchasing costs and a decision not to raise prices.

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