Swedish fast-fashion retailer Hennes & Mauritz AB reported that net income for the quarter ended Aug. 31 edged up less than 1% to $550 million, missing analysts’ expectations of $618 million in profit.
Hennes & Mauritz AB reported that profit for the second quarter rose 23% to $750 million, beating Wall Street estimates and marking the strongest profit increase in seven quarters for Europe’s second-largest apparel retailer.
Swedish fashion retailer Hennes & Mauritz AB confirmed that it will open a new chain in 2013 that will build on the 2007 launch of its upscale Collection of Style (COS).
Swedish fast-fashion retailer Hennes & Mauritz reported that net profit for the fourth quarter dipped to $997.2 million from $1.1 billion in the year earlier period.
Hennes & Mauritz AB Thursday reported that its net profit in the first quarter fell 30% from a year earlier on “significantly higher” cotton prices, higher transportation costs and a stronger Swedish krona.