Share rise seen by H&M

Share rise seen by H&M

Shares in H&M rose by more than 10 percent

This is after the fashion retailer reassured investors that it would not need to cut costs further to shift unsold clothing despite a bigger than expected fall in quarterly profit.

 

The Swedish company felt the effects of teething problems with a new logistics system designed to help improve its supply chain that cost it an additional 400 million Swedish crowns.

However, the market reacted positively after H&M said it did not expect increased discounting in the current quarter thanks to the “quality and balance” of its inventories.

Published: by Radio NewsHub
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