Shares in H&M, the world’s second-biggest fashion retailer, fell almost 6% on Thursday as net sales for the September-November quarter failed to match a recent pick up in some analysts’ expectations. H&M, which has struggled to keep up with bigger rival Zara, last month became the first big European retailer to lay off staff in response to the cost-of-living crisis as it tries to save 2 billion Swedish crowns ($196 million) a year.
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