H&M profits sink amid weak salesSwedish fashion giant H&M - the world's second-biggest clothing chain - has posted a 61% profit fall for the three months to February amid weak sales. Recently it warned of weaker demand in some stores and also said sales had fallen for the second quarter in a row. Most will be H&M stores, but 90 will be its newer spin-offs including & Other Stories, Cos and Monki. H&M said that rise was higher than planned, and would mean "increased markdowns" in the second quarter of 2018 compared with last year. However, the retailer said it expected sales and profits to return to growth.

Source: VietNamNet News March 27, 2018 08:15 UTC