The fashion giant is struggling.

Despite high-profile collaborations with both Erdem and Nicki Minaj last fall, H&M admitted that it is sitting on a stockpile of $4.3 billion worth of unsold dresses, accessories, and other clothing and has seen a 62 percent drop in profits in the three months through February of this year, The New York Times reports.

While this is bad news for the Swedish retailer, which also owns Cos and & Other Stories, it’s great news for everyone else since H&M plans to slash prices in the upcoming months to get rid of the unsold stock to fix the problem. But some of that inventory includes months-old Halloween costumes and Christmas sweaters, according to the Washington Post.

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  • Julius
    3 years ago Reply

    Dope!!!

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