Stockholm-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 is the Pentagon stuffing caves in Norway full of tanks?
- 43 TV shows to watch in 2014
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- The one thing the New Atheists get right about religion
- The U.S. government is actually trouncing Ebola. When will it get credit?
- The uncomfortable truth in The Giving Tree
- Syrian women know how to defeat ISIS
- The simple trick to making better decisions in every aspect of life
- 6 things the happiest families all have in common
- Why America needs more billionaires
Subscribe to the Week