STOCKHOLM—H&M, the world’s second-biggest fashion retailer, reported a forecast-beating 33 percent increase in March-May profit on Wednesday as shoppers flocked to its stores in the aftermath of the pandemic. The Swedish company reported a pretax profit of 4.78 billion crowns ($471 million) for its fiscal second quarter, up from 3.59 billion a year earlier. Analysts…
Boohoo’s Margins Dented by Higher Freight and Labour Costs
LONDON—British online fashion retailer Boohoo warned on Thursday that full year profit margins will be lower than its previous guidance due to a rise in freight costs in its supply chain and higher wages for its distribution centre workers. Shares in the group dropped 11 percent, extending year-on-year losses to 37 percent after it said…
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