January 31, 2018 / 7:24 AM / 6 months ago

H&M Q4 pretax profit falls less than expected

STOCKHOLM, Jan 31 (Reuters) - Fashion retailer H&M posted on Wednesday a slightly smaller fall than expected in quarterly pretax profit and said it would accelerate its online push to offset weak developments in the H&M brand’s physical stores.

Pretax profit in September through November, H&M’s fiscal fourth quarter, shrank to 4.9 billion Swedish crowns from a year-ago 7.4 billion, against a mean forecast in a Reuters poll of analysts for 4.7 billion.

H&M had unveiled in December that sales unexpectedly fell in the quarter, sending its shares down.

H&M proposed an unchanged dividend and said it would look at offering shareholders an opportunity to reinvest the dividend in newly-issued H&M shares.

Reporting by Anna Ringstrom, editing by Simon Johnson

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