H&M profits plummet due to departure from Russia and rising costs
For the three months to November 30, 2022, H&M reported an operating profit of SEK 821m (£64.4m), down year on year for the quarter.
The retailer also posted a gross profit of SEK 31bn (£2.43bn), resulting in a gross margin of 49.7% – down from 55.2% in the same period last year.
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