High street fashion chain H&M has cheered its “best results for many years” in spring trading, but warned over a hit to sales in June from recent volatile weather.The group reported a 3% rise in net sales to 59.6 billion Swedish krona for its second quarter to the end of March, helping operating profits lift to 7.1 billion Swedish krona compared with 4.7 billion Swedish krona a year earlier.
But the retail giant said it expects sales to drop by 6% in local currencies year-on-year in June as weather has dampened sales and as it comes up against strong trading from a year ago. The results come after Daniel Erver took the reins as H&M chief executive at the end of January, replacing Helena Helmersson who left after four years in the role amid flagging profitability at the group.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TIME - 🏆 93. / 53 Read more »