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B8 Friday , June 25, 2010 THE WALL STREET JOURNAL. 90s 80s 70s 70s 60s 60s 50s 50s 40s 100s San Antonio Ft. Worth El Paso Albuquerque Houston Cabo San Lucas Monterrey Mexico City Topeka Omaha Sioux Falls Wichita Seattle Eugene Portland Boise Reno Sacramento Phoenix Los Angeles Las Vegas San Diego Salt Lake City Cheyenne Colorado Springs Denver Santa Fe Helena Bismarck Pierre Austin Tucson San Francisco Billings Memphis Buffalo Toronto Ottawa New York Boston Cleveland Albany Hartford Augusta Detroit Chicago Charlotte Atlanta Nashville Louisville Charleston Columbia Anchorage Honolulu Birmingham Jacksonville Orlando Miami New Orleans St. Louis Kansas City Springfield Des Moines Richmond Washington D.C. Oklahoma City Indianapolis Jackson Raleigh Mpls./St. Paul Mobile Philadelphia Pittsburgh Vancouver Calgary Edmonton Winnipeg Montreal Milwaukee Tampa Little Rock Dallas 60s 70s 80s 90s 100+ 10s 0s <0 20s 30s 40s 50s Snow Flurries T-storms Showers Ice Rain Warm Cold Stationary U.S. Forecasts AccuWeather.com U.S. Weat her Delay International Weath er Dela y Weather Delays Weather and forecast weather-related delays at major airline hubs. Check most updated schedule with airlines. Legend: All- day delays possible (AD); Morning delays (AM); Evening delays (PM) City Hi Lo W Hi Lo W City Hi Lo W Hi Lo W City Hi Lo W Hi Lo W Latin America Africa/Middle East Caribbean International Forecast s WEATHER WA TCH Canada Asia/Pacific Europe Shown are today’s noon positions of weather systems and precipitation. Temperature bands are highs for the day. Atlanta t PM Chicago s NO Dal la s/ Ft. Wo rt h t PM Denver t AD Mpls./S t. Paul t AD New York s NO San Francisco pc AD Hong Kong t AD London pc none Paris s n one Singapore sh PM Sydney c none Tokyo pc n one Vancouver pc none Calgary 72 49 pc 64 46 pc Edmonton 74 49 pc 71 48 pc Montreal 73 57 s 68 55 c Toronto 76 59 s 72 61 t Vancouver 71 53 pc 66 56 c Winnipeg 74 62 t 78 62 t Amsterdam 74 57 pc 72 56 pc Athens 81 66 pc 84 69 pc Berlin 73 57 s 79 56 s Brussels 75 57 s h 77 59 p c Budapest 75 61 sh 85 58 s Copenhagen 73 53 pc 70 53 pc Dublin 70 52 pc 68 54 pc Edinburgh 67 58 pc 67 56 sh Frankfurt 75 60 sh 85 63 s Geneva 78 56 pc 80 57 s Istanbul 73 62 c 78 64 pc Lisbon 83 63 s 82 61 pc London 79 59 pc 79 59 pc Madrid 90 64 s h 88 64 p c Milan 81 64 t 82 65 s Moscow 86 63 s 84 62 s Nice 79 65 s 77 65 s Paris 83 60 s 85 63 s Prague 73 57 s h 78 56 p c Rome 81 63 s 82 64 s St. Petersburg 85 68 t 86 58 t Stockholm 70 52 sh 66 50 sh Vienna 74 62 sh 76 61 t Warsaw 73 56 c 77 53 pc Zurich 78 56 sh 78 53 t Bangkok 90 79 t 90 79 t Beijing 98 72 s 95 72 s Hanoi 90 80 t 93 81 sh Hong Kong 89 81 t 88 81 t Jakarta 89 78 r 86 78 r Karachi 90 83 s 92 84 s Manila 90 80 t 85 78 t Melbourne 59 43 r 53 39 pc Mumbai 91 82 r 92 82 sh New Delhi 111 88 s 11 2 90 s Seoul 93 68 s 82 67 sh Shanghai 82 69 pc 82 69 s Singapore 84 79 sh 88 79 sh Sydney 68 48 c 67 44 r Taipei 90 78 r 92 79 r Tokyo 80 72 pc 83 72 sh Bogota 65 47 r 64 47 r Buenos Aires 59 45 s 59 48 pc Caracas 83 72 t 85 73 t Lima 72 59 s 71 58 s Mexico City 77 55 t 79 55 t Rio de Janeiro 81 69 s 78 66 s Santiago 59 37 pc 55 30 c Sao Paulo 79 58 s 73 58 pc Baghdad 102 69 s 103 70 s Cairo 94 71 s 94 72 s Jerusalem 77 59 s 77 56 sh Johannesburg 71 40 s 75 37 s Riyadh 102 77 s 101 73 s Tehran 92 71 s 94 76 s Barbados 87 78 sh 87 78 s Havana 88 76 r 89 75 r Kingston 88 80 t 87 80 r Port-au-Prince 88 77 sh 91 78 t San Juan 90 77 s h 88 77 s h To day To morrow To day To morrow To day To mor ro w Today Tomorrow Today Tomorrow Tod ay Tomorro w STOCKHOLM—Hennes & Mauritz AB will be affect ed by any appreciation in China’s cur- rency but has no plans to move its manufacturing, the Swedish fashion retailer’s chief executive said. “Costs there will probably go up,” Karl-Johan Persson said in an interview Thursday . Analysts estimate that about a third of H&M’s pro duc ts are made in China, where the government re- cently signaled that the yuan’s exchange rate will become more flexible. The move is seen as an effort to appease U.S. politicians, who have complained that the weak yua n unfairl y boosts China’s competitiveness. “No one knows what is going to happe n here ,” Mr. Persso n said, “but bear in mind that this is just one of many factors af- fecting our costs. So we see no need to take action.” The Stock holm-b ased com- pany Thursday posted a 24% rise in net profit for its fiscal second quarter ended May 31 to 5.21 bil- lion Swedish kronor ($670.4 mil- lion) from 4.19 billion kronor a year earlier. Revenue rose 1.9% to 27.03 bill ion kro nor fro m 26.54 billion kronor . However, sale s in stores that had bee n open for more tha n a y ea r dropped 2%. “There is some cannibalism,” Mr. Persson said, referring to the ferocious speed at which H&M has been opening stores in the past few years. “I don ’t kno w exactl y how large that effect is, but it is clear that our same-store sales num- ber s would have loo ked a lot better otherwise,” he added. Durin g the qua rter, the world’s No. 3 fashion chain by revenue, behind U.S.-based Gap Inc . and Spain’ s Inditex SA, opened 86 stores and closed 12. In the third and fourth quarters, H&M expects to open 180 stores, mos tly in Ger many, the U. S., U.K., France, China and Italy. Mr. Persson, who is 35 years old and the grandson of H&M’s founder and son of the majority owner, took over at the helm of the retailer a year ago. He said he was very pleased with sales in Asia and also singled out Rus- sia, where H&M plans to open up a flagship stor e on St. Peters- burg’s Nevsky Prospect later this year. Positive number s from U.S. stores also keep coming in, al- beit again st weak year-earlier sales, he said. In Europ e, meanwhile, the picture is more patchy. “Ireland and Greece still look bad,” said Mr. Persson, but he added that there were improvements in It- aly and Portugal, two countries that have also be struggling with huge fiscal deficits. “A lot of countries will have to tighten their budgets, and, of course, that will affect consump- tion, ” Mr. Persso n said.B ut de- spite overall consumption being lower than it was in 2007, H&M has managed to steadily increase its sales. “People are shopping less but we sell more,” Mr. Persson said. “That’s a good combination.” BY JOHAN ANDERBERG H&M W ill St ay in China De sp ite Likely Rise in Cost s A Hennes & Mauritz sales assistant replenishes stock at an H&M store in London on Wednesday. B l o o m b e r g N e w s MARKETPLACE C M Y K Composite P2JW17603A-0-B00800-10010B220A0 06/25/ 2010 WE DE,DN,FW,HW,LA,RI,TS,UT
