Fashion retailer H&M surprises with Q1 profit but March sales disappoint ...Middle East

Fashion retailer H&M reported a surprise operating profit for the December-February period as cost-cutting measures started to bear fruit, despite consumers curbing spending and a cold spell holding back sales of its spring collection. While H&M showed signs of bringing its costs under control, it still struggled to compete with major rival Inditex, owner of Zara and other brands, as well as rapidly expanding fast fashion online retailers such as SHEIN and Temu.

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