H&M profits fall 10% as online investment weighs

Sweden’s H&M disappointed investors with a 10% tumble in quarterly profit. The world’s second-largest fashion retailer blamed investment aimed at boosting its online business for the decline.

Profit fell for the third straight year in 2018, because of competition from the likes of Zara, Primark, and Asos, and as the shift to online shopping hit trading at its core budget stores.