STOCKHOLM -H&M reported a quarterly loss on Wednesday and said that it was dedicated to regaining the trust of shoppers in China following a recent backlash there after comments it made last year the on the Xinjiang region.
The world's second-biggest fashion retailer has come under fire from consumers and officials in China after an H&M statement from 2020 resurfaced on social media. In those comments, H&M had expressed concern over reports of forced labour in the western region of Xinjiang, saying it would no longer source cotton from there.
"By working together with stakeholders and partners, we believe we can take steps in our joint efforts to develop the fashion industry, as well as serve our customers and act in a respectful way," it said.China is H&M's fourth-biggest sales market and its biggest sourcing market.
H&M said it would not propose a dividend at its annual general meeting but saw good prospects of one in the second half of the year.
How is H&M going to rebuild trust when they still stick to their former statement that they will not use cottons from Xinjiang because of genocide. AP_Politics
Fakenews, H&M was packed, pass few days.
hm RIP! 🤭
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