PARIS — Hennes & Mauritz AB said Thursday that net profits rose 6 percent in its fiscal fourth quarter thanks to strong sales, but its gross margin came under pressure from currency fluctuations and heavy markdowns prompted by an unusually mild autumn.
The Swedish fast-fashion giant posted a profit after tax of 5.6 billion Swedish kronor, or $863.1 million, in the three months ended Nov. 30. All dollar rates are calculated at average exchange for the period to which they refer.
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)