The mass-market beauty company had $96.8 million in sales for the first half of 2016.
Rights groups applaud the decision as a victory for individual and religious freedom.
The company said the period was impacted by a lack of innovation and the failure to execute, as well as a highly promotional retail landscape.
Many credit professionals are expecting an announcement of an asset sale of some kind to alleviate liquidity concerns.
The former chairman has been reaching out to any private equity firm that might be a potential partner in a leveraged buyout of the $2.5 billion retailer.
H&M went for an “old East London” look in its latest campaign for David Beckham Bodywear, with photographer Josh Olins.
With its reputation for brand building and expertly managing creative talents, the luxury sector could be the next executive hunting ground.