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H&M sees rise in second quarter profit, sales

By WTOP Staff

STOCKHOLM (AP) — Swedish clothing retailer Hennes & Mauritz AB says its second-quarter earnings rose 25 percent as online expansion and new store openings boosted sales.

Net profit in the March-May period was 5.81 billion kronor ($870 million), up from 4.66 billion kronor in the same period a year earlier, clearly beating analyst expectations. Sales rose 20 percent to 37.8 billion kronor.

H&M said Wednesday it plans to open 375 new stores in total this year, an extended shoe range and up to 10 new online markets in 2015.

Rapid expansion lead to a rise of 16 percent in sales and administrative costs in comparison with the previous year, boosted mainly by investments into the company’s IT and online systems.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

By WTOP Staff
WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
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