Swedish fashion retailer reports sales have increased but dollar rate,mild winter and deep discounting have distress profitsFashion firm H&M has warned that price reductions to abet shift large stocks of winter wear after unusually warm weather and tall purchasing costs due to a strong dollar would weigh on its first quarter profits.
The Swedish company, the world’s moment biggest fashion retailer after Zara owner Inditex, and said it expected sales in January,the moment month of its fiscal first quarter, to increase 7% in local currencies from a year ago. Related: tall street stores cut prices to compete for Christmas customers Continue reading...
Source: theguardian.com