Retail
H&M sales wide of estimates amid weakened consumer sentiment
Swedish group last year saw profits dive due to soaring costs and weakening consumer sentiment
H&M, the Swedish fashion chain, reported a 12 per cent increase in net sales between December and February while measured in local currencies sales were up 3 per cent, missing analysts’ estimates.
The world's second-biggest fashion retailer said net sales for the period were up 12 per cent from a year earlier to 54.9 billion crowns (€4.9 billion).
In a trading update on Wednesday, the retailer said that, excluding Russia, Belarus and Ukraine, the rise ...