STOCKHOLM: H&M, the world’s second largest clothing retailer, posted a surprise drop in sales last month, the first such decline in four years sending its shares 4.5% lower.
The Swedish budget fashion firm said local-currency sales fell 1% year-on-year in February, against a forecast in a Reuters poll of analysts for a 6% rise.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!