PARIS — Hennes & Mauritz AB said net profits rose 22.6percent in the fiscal second quarter as the Swedish fast-fashionretailer posted strong sales across its 44 markets and reaped thebenefits of better sourcing conditions, including lower cotton prices.
Profitafter financial items rose to 5.2 billion Swedish kronor, or $765million, from 4.2 billion kronor, or $679 million, during thecorresponding period last year. All dollar rates are calculated ataverage exchange rates for the period in question.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"