H&M first-quarter pretax profit falls less than expected

March 29, 2019

STOCKHOLM (Reuters) – Swedish fashion retailer H&M reported on Friday a smaller than expected fall in fiscal first-quarter pretax profit as it sold more products at full price and improvement in purchasing and logistics.

Pretax profit in December through February shrank to 1.04 billion Swedish crowns ($112.1 million) from a year-ago 1.26 billion, against a mean forecast in a Reuters poll of analysts for a 44 percent fall to 708 million.

(Reporting by Helena Soderpalm and Esha Vaish)

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