H&M Q4 Profits Hit By Russia Exit, One-Time Costs

PARIS – H&M Group’s Russia exit and one-time costs caused the retailer’s profits to plunge in the three months to Nov. 30.

In that fourth quarter of its most recent fiscal year, H&M reported a net loss of 864 million Swedish kronor, or $83.9 million, against a net profit of 4.62 billion kronor in the same prior-year period. 

Also in the fourth quarter, H&M’s operating profit totaled 821 million kronor, versus 6.26…