If H&M is sneezing, does the rest of mid-market fashion have a summer cold?
After reporting a decline in operating profits in its first half, do the struggles of fashion giant H&M reflect a deeper malaise in UK mid-market fashion?
In the half to May 31, H&M operating profits slumped to SEK 7.12bn, compared to SEK 9.18bn the previous year. While net sales in local currencies increased by 1%, and when converted came to SEK 112.05bn versus SEK 113,27bn.
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