H&M , the world's second-biggest fashion retailer, on Monday reported a sharp but slightly smaller than expected drop in second-quarter sales as measures to slow the COVID-19 pandemic slammed the sector.
FILE PHOTO: The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar
The Swedish company’s net sales for the three months to May 31 fell 50% year on year to 28.7 billion crowns . Analysts had on average forecast a fall to 27.5 billion, Refinitiv data shows.
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