H&M third quarter pretax profit falls slightly more than expected

H&M third quarter pretax profit falls slightly more than expected
 

Swedish fashion retailer Hennes & Mauritz (HMb.ST) reported on Friday a pretax profit fall for the June-August period that was slightly bigger than expected, and said it expected sales in September to be up 1 percent in local currencies from last year.
Dented by currency translation effects and markdowns, pretax profit in H&M's fiscal third quarter shrank 10 percent to 6.30 billion crowns (566.47 million pounds) from a year-earlier 6.94 billion, against a mean forecast of an 8 percent fall to 6.38 billion in a Reuters poll of analysts.
(Reporting by Anna Ringstrom)
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30 September 2016 in Business, Views: 37
Source: Reuters
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