By  on February 1, 2008

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.

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