H&M's March sales tumble 46% as pandemic hits, sees second-quarter loss
Share:
STOCKHOLM (Reuters) - H&M , the world's second-biggest clothing retailer, reported on Friday a 46% plunge in March sales as the coronavirus pandemic took its toll and said it expected to run a loss in its fiscal second quarter."The second quarter will naturally be very negatively impacted by the corona situation and will therefore beloss-making," the Swedish group said. Fiscal first-quarter pretax profit more than doubled to 2.50 billion crowns (200.00 million pounds) from a year-ago 1.04..