H&M profits hit by ‘negative external factors’ and increased markdowns
Swedish fashion giants H&M have reported a dip in profits in the first quarter, driven by “negative external factors”, increased markdowns of products and investment.
For the period covering December 1, 2024 to February 28, 2025, H&M reported a 2.4% dip in gross profits to SEK 27,169m. The retailer noted that markdowns during the period by around 1 percentage point were due to a later Black Friday, which also increased logistics costs for the quarter.
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