H&M warns: If Middle East conflicts persist, consumer spending will be affected

Glonghui, March 26｜Chain clothing retailers have issued a warning that if conflicts in the Middle East continue, rising prices are expected to curb consumer spending. Next stated that increased shipping and energy costs will add 15 million pounds in expenses in the short term, and if war with Iran lasts more than three months, the company may raise prices by 1.5% to 2%. H&M said that ongoing conflicts will drive up energy prices and harm consumers’ interests.