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Swedish clothing retailer H&M reported a decrease in pre-tax profits for the period from June to August by 20% year-on-year to 4 billion 10 million kroons. Sales fell by 8% in the US, France, Italy and Belgium markets as a result of problems with the new logistics system in these countries, which increased H & M costs by approximately 400 million kroner. The growth of competition forced the company to begin reorganizing the chains of its stores and brands. However, on September 17, the company reported a 4%increase in sales in local currencies including VAT in June-August. H&M told investors that, despite the reduction of pre-tax profits, there was no need to further reduction in prices to eliminate unsold goods. Against this background, the company's shares rose by 10.28%.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest ...
Alphabet Inc.’s Google (GOOGL) said on Monday that it would not use Fitbit Inc.’s (FIT) health data to target advertisements in an attempt to address the European Union’s antitrust concerns about its proposed acquisition ...
Gold prices fell earlier on Tuesday in Asia as the Dollar strengthened, pulling traction away from the yellow metal. Gold futures fell by 0.85% to $1,798.65 per ounce at 1:12 AM ET (6:12 AM GMT), still remaining above the $1,800 level. Losses ...
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