H&M Profit

Pretax profit at world's second-biggest fashion retailer jumped 33% from a year earlier to 4.78 bn crowns ($471 mn) in the Swedish group's second quarter, on sales growth of 12% in local currencies

While H&M was heavily dependent on the online channel for sales, the recent crisis has increased its dependence on the channel further

Job cuts are looming throughout the retail industry as chains find it's easier to sell online than in person.

Last year, H&M had grown top line at the rate of 43 per cent per annum, touching Rs 1,490 crore, Einola said, ahead of the 29 per cent top line growth it had achieved in 2018.

STOCKHOLM (Reuters) - H&M reported a slightly smaller-than-expected rise in fourth-quarter sales reflecting a later Black Friday this year, the world's second-biggest fashion retailer said on Monday.

H&M's gross profit margin for the financial year to November 30 fell to 54 per cent from 55.2 per cent a year earlier, in contrast to the Inditex gross profit margin