By and  on September 29, 2010

PARIS — Hennes & Mauritz AB, the world’s third-largest fashion retailer, generated a 22.6 percent increase in third-quarter profits, but its shares fell 6.5 percent Wednesday as investors focused on a slight downturn in margins and scaled-back store opening plans.

During the three months ended Aug. 31, net income rose to 4.24 billion Swedish kronor, or $565 million, while sales advanced to 26.89 billion kronor, or $3.58 billion, from 23.54 billion kronor, or $3.13 billion, during the 2009 period. Sales rose 21 percent when measured in local currencies and were up 11 percent on a same-store basis.

To Read the Full Article
SUBSCRIBE NOW

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus