Editor
Hennes & Mauritz AB shares dropped after the Swedish clothing retailer said it’s unlikely to hit a key profit target this year following a washed-out summer in Europe.
Chief executive officer Daniel Erver said that a pick-up in sales since the cold weather in June won’t be enough to help it achieve a 10 percent operating profit margin goal. He also pointed to the continued high cost of living for consumers.
Operating profit for the third…
