H&M reports loss in Q1
Published : 01 Apr 2021, 00:30
The Swedish fast fashion brand H&M reported on Wednesday a loss for its first fiscal quarter of 2021, reported Xinhua.
The company's first-quarter financial report showed that from December last year to February this year, the company had a pre-tax loss of 1.39 billion Swedish crowns, compared with a profit of 2.5 billion Swedish crowns the same period in the previous year.
The company's net sales in the first fiscal quarter were 40.06 billion Swedish crowns , a decrease of 27.1 percent from 54.95 billion Swedish crowns in the same period last year.
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