H&M quarterly net profit plummets 32%

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H&M has laid out a major turnaround plan bring it up to speed with rivals after seeing net profit plunge 32 per cent in its fourth quarter, thanks to a drop in footfall and heavy discounting. Sales in the fourth quarter ending November 30 also declined by four per cent, while operating profit the full-year period dropped by 14 per cent to SEK 20.6 billion (£1.85 billion).

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H&M quarterly net profit plummets 32%

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