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