PARIS — Sweden's Hennes & Mauritz on Thursday said fourth-quarter profits grew 14 percent and eased concern its business would wilt in the tough economic environment by reporting sales in January increased 16 percent.
The fast-fashion giant said profits after financial items for the three months through Nov. 30 reached 6.22 billion Swedish kronor, or $949.5 million, from 5.44 billion Swedish kronor, or $752.6 million, a year ago, below analysts' expectations.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)