H&M reported an increase in operating profit after receiving US tariff refunds, according to The Business of Fashion. The refund provided a temporary boost to earnings even as the fast-fashion retailer continued to face sluggish sales growth.
The Business of Fashion reported that the company has struggled to deliver consistent sales momentum, with intense competition continuing to weigh on trading. The latest profit improvement was therefore driven by a specific one-off benefit rather than a broader change in sales performance.
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