Pursuits
H&M Fourth-Quarter Profit Declines as Mild Winter Hurts Sales
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Hennes & Mauritz AB, Europe’s second-largest clothing retailer, said fourth-quarter profit fell 2.4 percent, matching analysts’ estimates, as mild winter weather weighed on sales of coats and scarves.
Net income slipped to 5.36 billion kronor ($797 million) in the three months ended Nov. 30, from 5.49 billion kronor a year earlier, Stockholm-based H&M said in a statement today.