tockholm-based Hennes & Mauriz, Europe’s No. 2 clothing retailer, reported a better-than-forecast 14 percent rise in quarterly profit, to $650 million, as budget-conscious shoppers started buying summer clothes. “Stores in the low price segment are relatively better off,” said Evli Bank analyst Anders Wiklund. “People still need to buy clothes.” H&M buys 60 percent of its clothes in Asia, in dollars, and the greenback’s weakness versus the Swedish kronor also helped its bottom line. (Bloomberg)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- Why are so many elderly Asians killing themselves?
- What would a U.S.-Russia war look like
- Driverless cars may be an environmental disaster
- Why I'm sick and tired of seeing naked women on HBO
- Here's proof that Justin Bieber is just as spoiled as you always thought
- What would a U.S.-Russia war look like?
- Why Ted Cruz is the real-life Frank Underwood
- 4 easy ways to resolve life's toughest questions
- Watch Zach Galifianakis get annoyed at President Obama on Between Two Ferns
- Why ABC threw its Bachelor under the bus
Subscribe to the Week