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H&M sales slow as war in Ukraine starts to dampen outlook

At the same time, sales and profits for the quarter were impacted by the negative effects of the pandemic in many of the group’s major markets.

H&M has announced the group’s net sales have slowed to 6% in March from 23% in the first quarter due to the Russian invasion of Ukraine, according to its first quarter results from 1 December 2021 – 28 February 2022.

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