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H&M Escalates Transformation Efforts After Profits Nosedive

Join Theory, Google, H&M, McKinsey, Foot Locker, Lafayette 148, LL Bean, the Retail Prophet and more at Sourcing Journal’s Virtual Sourcing Summit, R/Evolution: Overhauling Fashion’s Outmoded Supply Chain, Oct 14 & 15.

H&M said “mistakes” led to a 34 percent drop in profit for the fourth quarter of 2017, totaling 4.87 billion Swedish krona ($618.78 million). Sales for the period slid by 4 percent to 58.481 billion SEK ($7.43 million). Full year profits sank 13 percent to 20.81 billion SEK ($2.64 billion). Calling the year mixed, CEO Karl-Johan Persson…

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