FOX BIZ NEWS: H&M profit drops, sales go up in India mainly

H&M profit drops, sales go up in India mainly



Swedish low-cost fashion brand Hennes & Mauritz AB has announced first-quarter profit dropped to 803 million kronor ($86.4 million), down from 1.4 billion kronor a year ago, saying the earlier period was positively affected by one-off tax income as a result of U.S. tax reform.