Tag: $H and M

H&M cast doubt over its full-year profit margin target on Thursday after missing quarterly earnings forecasts and predicting a fall in June sales, sending shares in the world’s No.2 listed fashion retailer down almost 14%.

H&M  reported on Friday flat sales for its most recent quarter, lagging expectations as the world’s second-biggest fashion retailer struggled in the face of intense competition from Zara-owner Inditex and others.

Fashion retailer H&M’s shares hit a 16-month high on Thursday after its second-quarter profit beat estimates as cost-cutting measures started to bear fruit and its summer collection benefited from warmer weather in Europe.