H&M abandons 2024 margin target as markdowns and costs hurt profit – ET Retail
Representative image H&M scrapped its earnings margin target for 2024 as higher discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world’s No.2 listed fashion retailer down as much as 8%. H&M has struggled to boost its profitability amid high inflation, weaker consumer demand and competition from its…