H&M pre­tax profit higher than ex­pected

New Straits Times - - Business -

STOCK­HOLM: Bud­get fash­ion re­tailer H&M re­ported a smaller-than-ex­pected de­cline in pre­tax profit for the lat­est quar­ter as tight con­trol of costs helped to off­set the im­pact of soft sales. H&M also said it would launch a new brand, slightly more up­mar­ket, in the sec­ond half of the year. Pre­tax profit in the De­cem­ber-Fe­bru­ary pe­riod fell to 3.21 bil­lion crowns (RM1.6 bil­lion) from 3.33 bil­lion crowns pre­vi­ously, against a mean fore­cast for 2.87 bil­lion crowns seen in a Reuters poll of an­a­lysts.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.