PARIS — Hennes & Mauritz on Thursday said store openings and lower buying costs boosted first-quarter profits by 28 percent, illustrating the Swedish fast-fashion giant’s ability to log impressive growth in a challenging market.
H&M said group profits after taxes in the three months through Feb. 29 reached 2.94 billion Swedish kronor, or $458.7 million at average exchange, as sales advanced 18 percent to 19.74 billion Swedish kronor, or $3.1 billion.
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)