Profit of H&M falls 17pc in Q2

Profit at Swedish fashion retailer Hennes & Mauritz fell 17 percent in the second quarter as cold weather hit sales of its spring clothes and a strong dollar increased its costs. 

H&M, which buys the bulk of its clothes in Asia on U.S. dollar contracts while selling most of them in Europe, is more exposed to the U.S. currency than Zara owner Inditex which makes more in-house, either in or near Europe.