Pursuits
H&M Profit Misses Analyst Estimates as Gap to Inditex Widens
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Hennes & Mauritz AB, Europe’s second-largest clothing retailer, reported third-quarter profit that missed estimates and delayed the start of online operations in the U.S. as it falls further behind Zara owner Inditex SA.
Net income rose 0.9 percent to 3.62 billion kronor ($550 million) in the three months ended Aug. 31, Stockholm-based H&M said today, compared with the 4.05 billion-kronor average estimate of 14 analysts compiled by Bloomberg.