PARIS — Hennes & Mauritz AB said net profit fell 15 percent in the third quarter as economic uncertainty and bad weather kept customers out of stores in key markets, triggering intense price competition between fast-fashion retailers.
Though its margins have come under pressure, the Swedish retailer said it had gained market share and planned to ramp up the rate of store openings before the end of the year.
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)