H&M PROFITS HAVE DROPPED TO A 16-YEAR LOW

More bad news continues to mount for fast-fashion retailer H&M. The Swedish retailer revealed that its first quarter profits are down by 62 percent to around $150 million USD. The dip in profits have been attributed to a warmer January and cold February.  But it would be hard to ignore the fact that recent controversies with the racially divisive hoodie and being accused of ripping designs from artists haven. The loss in profits has lead to a drop in pricing in stores.