AP News

News Summary: Sweden's H&M posts nearly flat 3Q


LONG HOT SUMMER: Swedish fashion retailer Hennes and Mauritz said problems associated with Europe's debt crisis and a heat wave in a number of its key markets capped earnings in the third quarter.

THE DETAILS: The world's second-largest clothing retailer in terms of sales, H&M posted a profit of $549 million in the three months between June and August, up nearly 1 percent from a year ago.

WHAT'S AHEAD: H&M plans to open 300 new stores this year, up from a previously forecast 275.


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