Sweden News
Cotton price takes its toll on H&M
Fashion retailer Hennes & Mauritz AB said Thursday that it had been hit by the high price of cotton as it reported a 5 percent increase in earnings for the first quarter on rising sales.The profits came in below expectations and H&M's share price fell 5 percent in Stockholm to 238.10 Swedish kronor ($35.72) after the report.Net profit was 2.74 billion kronor ($411 million) in the December 2011-February
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