Headlines

H&M Profits Down 22%

The company released its most recent quarterly results

Published

6 years ago

June 29, 2018

H&M (Stockholm) released its most recent quarterly earnings, which revealed its profits dropped 22 percent. While the drop was lower than expected, analysts had projected a decline of 21 percent.

According to Retail Gazette, the profit drop is being attributed to the company’s updated logistics system that caused connection outages throughout the period. The company also reported an overload of stock that it will now have to be heavily discounted to relieve the issue.

Sales were relatively flat for the period. However, the company expects to see gradual improvement and a stronger end to the year.

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