H&M shares fall on weak March sales despite profit beat
H&M reported a first quarter profit beat of 1.51 billion crowns. Shares fell as a modest March sales forecast offset the gains from tight cost controls.
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Shares of the fashion retailer H & M Hennes & Mauritz AB (publ) declined on Thursday as a subdued sales outlook for March overshadowed a stronger-than-expected quarterly profit. The company, headquartered in Sweden, reported that its focus on cost management helped drive earnings despite a challenging macroeconomic environment and geopolitical tensions, including the ongoing conflict involving Iran.
