Europe Fashion Stocks Drop After H&M Flags Tough Conditions -- Market Talk

Dow Jones06-27

0759 GMT - European fashion stocks fall after H&M cautioned it is facing tougher conditions than expected, making reaching its annual profitability target look more challenging. Shares in the Swedish fashion retailer fall 13% after it reported second-quarter results, sending the stocks of its European peers lower as well. German online fashion retailer Zalando sheds 3.1%, Primark owner Associated British Foods falls 2.3%, U.K. online retailer Asos is down 0.7% and Zara parent Inditex trades 0.5% lower. Analysts at Bernstein noted H&M expects the cost of markdowns to increase in its current fiscal quarter compared with the same period last year. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

June 27, 2024 03:59 ET (07:59 GMT)

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German online fashion retailer Zalando sheds 3.1%, Primark owner Associated British Foods falls 2.3%, U.K. online retailer Asos is down 0.7% and Zara parent Inditex trades 0.5% lower. Analysts at Bernstein noted H&amp;M expects the cost of markdowns to increase in its current fiscal quarter compared with the same period last year. 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