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Low-cost fashion chain H&M reports 4th-quarter loss

Por: ABC News Business January 27, 2023

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STOCKHOLM -- Low-cost fashion brand H&M said Friday that shutting down its business in Russia and Belarus had a significant negative impact on its results, while increases in the costs of raw materials and freight and a strong U.S. dollar made purchases more expensive. The Sweden-based group said its net profit for the year ending Nov. 30 fell 68% while it reported a loss of 864 million Swedish kronor ($84 million) in the fourth quarter.However,... + full article



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