Pandemic pushes H&M into deep loss, recovery outlook unclear
Share:
STOCKHOLM (Reuters) - H&M , the world's second-biggest fashion retailer, swung into a steep loss in its March-May quarter and said its recovery outlook was uncertain, although trade had resumed faster than feared as pandemic lockdowns ease and stores reopen.The biggest player Inditex , the owner of Zara, made its first loss in February-April. H&M's loss was the first in decades and possibly the first ever, a spokesman said.The Swedish group reported a pretax loss of 6.5 billion crowns (£559.4..