Discuss: World’s second-biggest fashion retailer blames Russia for 89% profit drop

World’s second-biggest fashion retailer blames Russia for 89% profit drop

The Swedish fashion giant H&M says profits have dropped 89 per cent They blame cost inflation, slow consumer spending and one-off expenses related to its exit from Russia. Pretax profit in the period, the Swedish group’s fiscal third quarter, fell to 689 million crowns ($60.9 million) from a year-earlier 6.09 billion. The Russian exit accounted […]

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