Content about Hennes & Mauritz AB

October 8, 2012

Hennes & Mauritz AB has cut a deal to open in Manhattan’s Times Square, the New York Post reported.

New York -- Hennes & Mauritz AB has cut a deal to open in Manhattan’s Times Square, the New York Post reported.

According to the report, H&M will move into the three-floor, 42,510-sq.-ft. space at 4 Times Square that was previously occupied by the restaurant ESPN Zone. The space, which has been vacant for some two years, includes two huge billboards that wrap above the store’s facade along Broadway and West 42nd Street.

 

September 27, 2012

Swedish fast-fashion retailer Hennes & Mauritz AB reported that net income for the quarter ended Aug. 31 edged up less than 1% to $550 million, missing analysts’ expectations of $618 million in profit.

Stockholm, Sweden -- Swedish fast-fashion retailer Hennes & Mauritz AB reported Thursday that net income for the quarter ended Aug. 31 edged up less than 1% to $550 million, missing analysts’ expectations of $618 million in profit. Sales rose 10% in local currency, but gross margins shrank and the retailer said it would delay the start of online operations in the U.S. until next summer to allow it more time to adapt to the market.

June 21, 2012

Hennes & Mauritz AB reported that profit for the second quarter rose 23% to $750 million, beating Wall Street estimates and marking the strongest profit increase in seven quarters for Europe’s second-largest apparel retailer.

Stockholm, Sweden -- Hennes & Mauritz AB reported Wednesday that profit for the second quarter rose 23% to $750 million, beating Wall Street estimates and marking the strongest profit increase in seven quarters for Europe’s second-largest apparel retailer.

H&M had announced on June 15 that sales for the quarter rose 15% to $4.5 billion, beating estimates and boosted by sales strength in the United States.
 

April 23, 2012

Hennes & Mauritz AB (H&M) will enter Latin America this fall, opening a flagship in Centro Santa Fé, Mexico City.

New York -- Hennes & Mauritz AB (H&M) will enter Latin America this fall, opening a flagship in Centro Santa Fé, Mexico City.

“We look very much forward to opening the first H&M flagship store in Mexico. It will be the perfect first step for H&M into this fashion conscious region,” said Karl-Johan Persson, CEO, H&M.
 

March 29, 2012

Swedish fashion retailer Hennes & Mauritz AB confirmed that it will open a new chain in 2013 that will build on the 2007 launch of its upscale Collection of Style (COS).

Stockholm, Sweden -- Swedish fashion retailer Hennes & Mauritz AB confirmed Thursday that it will open a new chain in 2013 that will build on the 2007 launch of its upscale Collection of Style (COS). No name for the new concept has been revealed yet.

September 29, 2011

Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period.

Stockholm, Sweden -- Hennes & Mauritz AB reported Thursday that profit for the third quarter fell 15% to $533 million, from nearly $621 million in the year-ago period. The Swedish fashion retailer cited rising procurement costs, marketing investments and a bump-up in new-store expansion for the decrease in profit.

H&M said it will add 265 new stores, up from the 250 previously planned, and will make market debuts in Indonesia and Thailand.

June 22, 2011

Hennes & Mauritz AB reported Wednesday that net income for its second quarter dropped 18% to $673 million, from $817 million in the year-ago period.

Stockholm, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its second quarter dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

March 31, 2011

Hennes & Mauritz AB Thursday reported that its net profit in the first quarter fell 30% from a year earlier on “significantly higher” cotton prices, higher transportation costs and a stronger Swedish krona.

New York City -- Hennes & Mauritz AB Thursday reported that its net profit in the first quarter fell 30% from a year earlier on “significantly higher” cotton prices, higher transportation costs and a stronger Swedish krona. The chain said profit in the quarter ended Feb. 28 fell to 2.62 billion Swedish kronor ($414 million).