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Weak Crown

H & M See Fall In Profits

Published torsdag 26 mars 2009 kl 14.59

The weak Swedish crown has meant that Swedish clothes giant H & M reported lower profits for the last quarter.

The company, which has over 2500 shops around the world, registered profits of just under 450 million US dollars over the last 3 months, that’s down from just over 500 million dollars in the same period 12 months ago.

They say that it’s the weak Crown, and not the global financial crisis that has led to the worse profits, and say they are still going to open over 250 new shops around the world this year.

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