H&M ends Russia business – financial burden in the third quarter

Sumary of H&M ends Russia business – financial burden in the third quarter:

  • In the current situation, she sees it as “impossible” to continue the business in Russia, said H&M boss Helena Helmersson on Monday in Stockholm.
  • The costs also include a reversal of unrealized foreign exchange gains of SEK 353 million.
  • Management expects the entire settlement process to incur one-off costs of around 2 billion Swedish kroner (190 million euros), around half of which will impact cash flow.

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