Hennes & Mauritz AB, Europe's second-biggest clothing retailer, reported fourth-quarter profit that topped analysts’ estimates as the company added stores in China and the U.S. and expanded its collection. Net income rose to 6.22 billion kronor ($760 million) in the three months through November, the Stockholm-based company said in a statement today. This year "has gotten off to a good start, with strong sales in both December and January," H&M CEO Karl-Johan Persson said in the statement. The stronger U.S. dollar will affect the company's sourcing costs, he added.
Stockholm
Melissa Campanelli is Editor-in-Chief of Total Retail. She is an industry veteran, having covered all aspects of retail, tech, digital, e-commerce, and marketing over the past 20 years. Melissa is also the co-founder of the Women in Retail Leadership Circle.
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