H&M swings to loss in Q1, will not propose dividend at AGM

Reuters2021-03-31

STOCKHOLM, March 31 (Reuters) - Sweden's H&M swung to a loss in the December-February period that roughly matched expectations and said on Wednesday it would not propose a dividend at its upcoming annual general meeting, but possibly later in the year.

The pretax loss in the world's second-biggest fashion retailer's fiscal first quarter was 1.39 billion crowns ($159.0 million) against a year-earlier profit of 2.50 billion. Analysts polled by Refinitiv had on average forecast a 1.41 billion crown loss.

Sales in March 1-28, the first month of H&M's second quarter, were up 55% measured in local currencies.

($1 = 8.7416 Swedish crowns)

(Reporting by Anna Ringstrom; editing by Simon Johnson)

((anna.ringstrom@thomsonreuters.com; +46 8 502 423 74; Reuters Messaging: anna.ringstrom.thomsonreuters.com@reuters.net))

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Comments

Ak91
2021-03-31
Ak91
Lik n comment pls
- Jchptan:
  CoMment back pls
WeiKeong
2021-03-31
WeiKeong
Because of Chinese cotton?
- Jojofi:
  Most likely [惊讶]
CHUNGWAIQIAN
2021-03-31
CHUNGWAIQIAN
Please comment, thanks.
- 4ebeaef4:
  Ok
DJBoy
2021-03-31
DJBoy
Sure die going against China
Jeph
2021-03-31
Jeph
Ooo
- ChemGoh:
  I see...
CrisJY
2021-03-31
CrisJY
Like and comment
- Ak91:
  Ok

Leave a comment

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