H&M Says Dollar's Profit Squeeze Won't Lift in First Quarter

  • Shares drop as much as 4.5% after fourth-quarter profit miss
  • Asian sourcing means bulk of purchases are linked to dollar

An employee arranges a clothes rail dislaying garments for sale inside an H&M store in Budapest. The company reported fourth-quarter earnings that missed analysts’ estimates.

Photographer: Akos Stiller/Bloomberg

Hennes & Mauritz AB warned it sees no respite from currencies in the first quarter after the dollar’s strength added to purchasing costs and led to fourth-quarter earnings missing analysts’ estimates.

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