Friday, March 16, 2018

Discounts hurt H&M sales

Biz Journals

Fashion retailer H&M reported low first-quarter sales on Thursday, Business of Fashion reports.

H&M warned last month that markdowns to clear out overstocked inventory would impact earnings at the start of the year, per Business of Fashion.

The Sweden-based retailer said revenue fell 1.7 percent in the first quarter to $5.6 billion, Bloomberg reports.. . . more