Editor
H&M reported on Friday flat sales for its most recent quarter, lagging expectations as the world’s second-biggest fashion retailer struggled in the face of intense competition from Zara-owner Inditex and others.
H&M shares fell more than 4 percent after the company said June-August local-currency sales, the most closely watched figure, were “flattish” year-on-year, missing the 5 percent growth forecast by analysts in a Reuters poll.
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