H&M gets too much credit too soon dasha_reuters
Swedish fashion retailer H&M on June 27 said net sales in local currency terms rose 12% in June compared with a year earlier.
Reporting its first-half results, H&M said the costs of markdowns relative to sales would decrease in the third quarter by around 1.5 percentage points from a year ago and that it expected to open around 130 net new stores in the 2019 fiscal year, 45 fewer than previously planned. H&M reported pre-tax profit of 5.9 billion Swedish crowns for its second quarter, compared with 6 billion crowns in the same period in 2018.
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