PARIS — Hennes & Mauritz AB said Wednesday that net profits fell 1.3 percent in the fiscal fourth quarter, as the retailer countered disappointing sales with increased investments in areas including online sales and the launch of its future brand, & Other Stories, scheduled for this spring.
The company posted a profit after financial items of 5.3 billion Swedish kronor, or $795.2 million, in the period between Sept. 1 and Nov. 30. All dollar rates are calculated at average exchange rates for the period in question.
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)