Warm winter and strong U.S. dollar lead to H&M profit decline
According to a Swedish local news network report on April 6, the warm winter that just ended has caused a hit to the winter clothing sales of Swedish clothing giant H&M. Although the company’s sales increased by 8.5% year-on-year from December 2015 to February 2016, its profit was only 2.54 billion kronor (approximately US$31 million), a year-on-year decrease of 29.6%. This shows that the strengthening of the U.S. dollar has led to an increase in supply costs, and the company’s increased sales discounts are also one of the reasons for the decline in profits. Warm winter and strong U.S. dollar lead to H&M profit decline
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