Fashion Retailer H&M's Sept-Nov Operating Profit Tumbles More than Expected

[Sarah]

H&M, the world's second-biggest fashion retailer, reported on Friday a much larger dive than expected in September-November operating profit, slammed by soaring costs and weakening consumer confidence. Operating profit in the period, the Swedish group's fiscal fourth quarter, was 821 million Swedish crowns ($79.7 million) against 6.26 billion a year earlier and a mean forecast of 3.67 billion in a Refinitiv poll of analysts.

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