STOCKHOLM: Swedish retail giant H&M had a strong start to the year but like many others it expects a rough second quarter owing to the Covid-19 crisis, it said Friday.
“In the second half of the quarter the group’s sales were muted by the rapid outbreak of coronavirus, particularly in China where sales decreased by 84% in February.”“The second quarter will naturally be very negatively impacted by the corona situation and will therefore be loss-making,” the group warned.
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