NHK Hand Delivered Jun 25 2010WSJ B8

8/8/2019 NHK Hand Delivered Jun 25 2010WSJ B8

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B8 Friday, June 25, 2010 THE WALL STREET JOURNAL.

Events Forecast

V IV A E LV IS & L EG EN DS O F R OC K & R OL L R AC E T O T HE T AS TE

Richmond, Va.A whole lotta shakin’ going on at Virginia Beach

ChicagoWork up an appetite to the finish line

boardwalk Sunday

Saturday Sunday Saturday Sunday

Hi/Lo: 97/74 Hi/Lo: 99/77 Hi/Lo: 91/72 Hi/Lo: 91/68

90s

80s

70s

70s

60s

60s

50s

50s40s

100s

SanAntonio

Ft. WorthEl Paso

Albuquerque

Houston

Cabo San Lucas

Monterrey

Mexico City

Topeka

Omaha

Sioux Falls

Wichita

Seattle

Eugene

Portland

Boise

Reno

Sacramento

Phoenix

Los Angeles

LasVegas

San Diego

Salt Lake CityCheyenne

ColoradoSprings

Denver

Santa Fe

Helena Bismarck 

Pierre

Austin

Tucson

San Francisco

Billings

Memphis

BuffaloToronto

Ottawa

New York 

Boston

Cleveland

Albany

Hartford

Augusta

Detroit

Chicago

Charlotte

Atlanta

NashvilleLouisville

Charleston

Columbia

Anchorage

Honolulu

Birmingham

Jacksonville

Orlando

Miami

New Orleans

St. LouisKansasCity

Springfield

Des Moines

Richmond

Washington D.C.

Oklahoma City

Indianapolis

Jackson

Raleigh

Mpls./St. Paul

Mobile

PhiladelphiaPittsburgh

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

High-low forecasts and generalweather conditions. s...sunny;pc...partly cloudy; c...cloudy; sh...show-ers; t...thunderstorms; r...rain;sf...snow flurries; sn...snow; i...ice

AccuWeather.com

U.S. Weather Delay International Weather DelayWeather Delays

Weather and forecastweather-related delays atmajor airline hubs. Checkmost updated schedulewith 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 WCity Hi Lo W Hi Lo W

Latin America

Africa/Middle EastCaribbean

City Hi Lo W Hi Lo W

International Forecasts

WEATHER WATCH

Canada Asia/Pacific Europe

Shown are today’s noon positions of weather systems and precipitation. Temperature bands are highs for the day.

Buffalo 78 5 6 s 78 6 2 t

Burlington 76 5 7 s 68 5 7 c

Charlotte 94 73 t 92 7 0 t

Chicago 86 6 9 s 91 7 2 t

Cincinnati 88 6 6 s 95 7 1 s

Cleveland 82 6 3 s 89 7 2 t

Dallas 98 78 t 97 7 8 s

Denver 95 65 t 95 5 6 t

Detroit 84 6 7 s 86 7 0 t

Honolulu 87 7 4 s 88 7 4 s

Houston 94 76 t 95 7 7 s

Indianapolis 88 6 7 s 94 7 4 s

Kansas City 96 7 7 s 95 7 5 s

Las Vegas 1 03 7 7 s 1 03 7 8 s

Little Rock 96 7 6 t 98 7 6 pc

Los Angeles 7 7 5 2 p c 7 7 6 2 p c

Memphis 94 76 t 96 7 8 t

Miami 90 81 t 90 7 9 t

Milwaukee 8 4 67 pc 83 7 0 t

Mpls./St. Paul 86 69 t 88 7 1 t

Nashville 92 69 t 97 7 6 s

New Orleans 94 7 8 t 94 7 8 pc

New York 87 7 1 s 86 7 4 s

Oklahoma City 98 7 4 s 97 7 6 pc

Omaha 94 7 6 s 97 7 3 t

Orlando 9 4 76 pc 94 7 7 t

Philadelphia 89 6 8 s 94 7 3 pc

Phoenix 109 79 p c 107 79 s

Pittsburgh 83 6 1 s 86 6 5 pc

Portland, ME 78 55 s 73 58 t

Portland, OR 7 0 5 3 p c 7 4 5 6 p c

Sacramento 90 58 s 95 61 s

St. Louis 90 76 s 97 79 s

Salt Lake City 9 0 59 pc 8 7 58 s

San Diego 6 7 6 1 p c 6 8 6 3 p c

San Francisco 6 8 5 2 p c 7 3 5 6 p c

San Jose 77 56 s 81 60 s

Santa Fe 86 56 t 94 55 t

Seattle 6 7 5 2 p c 6 9 5 5 p c

Sioux Falls 86 69 s 90 65 t

Tucson 1 04 7 3 s 1 04 7 0 s

Wash., DC 9 0 7 2 p c 9 3 7 5 p c

Atlanta t PM

Chicago s NO

Da ll as /Ft . W or th t P M

Denver t AD

Mpls./ St. Paul t AD

New York s NO

San Francisc o pc AD

Hong Kong t AD

London pc none

Paris s none

Singapore sh PM

Sydney c none

Tokyo pc none

Vancouver pc none

Calgary 7 2 4 9 p c 6 4 4 6 p c

Edmonton 7 4 4 9 p c 7 1 4 8 p c

Montreal 73 5 7 s 68 5 5 c

Toronto 76 5 9 s 72 6 1 t

Vancouver 7 1 53 pc 6 6 5 6 c

Winnipeg 74 62 t 78 6 2 t

Amsterdam 7 4 5 7 p c 7 2 5 6 p c

Athens 8 1 6 6 p c 8 4 6 9 p c

Berlin 73 57 s 79 56 s

Brussels 7 5 5 7 sh 7 7 5 9 pc

Budapest 7 5 61 sh 8 5 58 s

Copenhagen 7 3 5 3 p c 7 0 5 3 p c

Dublin 7 0 5 2 p c 6 8 5 4 p c

Edinburgh 6 7 5 8 p c 6 7 5 6 s h

Frankfurt 7 5 60 sh 8 5 63 s

Geneva 7 8 56 pc 8 0 57 s

Istanbul 73 6 2 c 78 6 4 pc

Lisbon 83 6 3 s 82 6 1 pc

London 7 9 5 9 p c 7 9 5 9 p c

Madrid 9 0 6 4 sh 8 8 6 4 pc

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 7 3 5 7 sh 7 8 5 6 pcRome 81 63 s 82 64 s

St. Petersburg 85 68 t 86 58 t

Stockholm 7 0 5 2 s h 6 6 5 0 s h

Vienna 7 4 62 sh 7 6 61 t

Warsaw 73 5 6 c 77 5 3 pc

Zurich 7 8 56 sh 7 8 53 t

Bangkok 90 79 t 90 7 9 t

Beijing 98 7 2 s 95 7 2 s

Hanoi 90 8 0 t 93 8 1 s h

Hong Kong 89 81 t 88 8 1 t

Jakarta 89 78 r 86 7 8 r

Karachi 90 8 3 s 92 8 4 s

Manila 90 80 t 85 7 8 t

Melbourne 59 4 3 r 53 3 9 pc

Mumbai 91 8 2 r 92 8 2 s h

New Delhi 1 11 8 8 s 1 12 9 0 s

Seoul 93 6 8 s 82 6 7 s h

Shanghai 8 2 69 pc 82 6 9 s

Singapore 8 4 7 9 s h 8 8 7 9 s h

Sydney 68 48 c 67 4 4 r

Taipei 90 78 r 92 7 9 r

Tokyo 8 0 7 2 p c 8 3 7 2 s h

Bogota 65 47 r 64 4 7 r

Buenos Aires 59 4 5 s 59 4 8 pc

Caracas 83 72 t 85 7 3 t

Lima 72 5 9 s 71 5 8 s

Mexico City 77 55 t 79 5 5 t

Rio de Janeiro 81 6 9 s 78 6 6 s

Santiago 5 9 37 pc 5 5 3 0 c

Sao Paulo 79 5 8 s 73 5 8 pc

Baghdad 1 02 6 9 s 1 03 7 0 s

Cairo 94 7 1 s 94 7 2 s

Jerusalem 77 5 9 s 77 5 6 s h

Johannesburg 71 4 0 s 75 3 7 s

Riyadh 1 02 7 7 s 1 01 7 3 s

Tehran 92 7 1 s 94 7 6 s

Barbados 8 7 78 sh 8 7 7 8 s

Havana 88 76 r 89 7 5 r

Kingston 88 80 t 87 8 0 r

Port-au-Prince 8 8 77 sh 9 1 7 8 t

San Juan 9 0 7 7 sh 8 8 7 7 sh

Albany 82 5 7 s 77 6 3 t

Albuquerque 89 66 t 95 6 5 t

Anchorage 6 6 5 4 sh 6 3 5 6 pc

Atlanta 94 74 t 92 7 4 t

Austin 9 2 72 pc 9 6 7 3 s

Baltimore 9 0 6 7 p c 9 3 7 0 p c

Boise 8 1 54 pc 8 2 5 4 s

Boston 80 6 2 s 76 6 4 t

Today Tomorrow

City Hi Lo W Hi Lo W

Today Tomorrow

City Hi Lo W Hi Lo W

Today Tomorrow

City Hi Lo W Hi Lo W

Today Tomorrow

Today Tomorrow Today TomorrowToday Tomorrow

STOCKHOLM—Hennes &Mauritz AB will be affected byany appreciation in China’s cur-rency but has no plans to moveits manufacturing, the Swedishfashion retailer’s chief executivesaid.

“Costs there will probably goup,” Karl-Johan Persson said inan interview Thursday. Analysts

estimate that about a third of H&M’s products are made inChina, where the government re-cently signaled that the yuan’sexchange rate will become moreflexible. The move is seen as aneffort to appease U.S. politicians,who have complained that theweak yuan unfairly boostsChina’s competitiveness.

“No one knows what is goingto happen here,” Mr. Perssonsaid, “but bear in mind that thisis just one of many factors af-fecting our costs. So we see noneed to take action.”

The Stockholm-based com-pany Thursday posted a 24% risein 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 ayear earlier. Revenue rose 1.9%to 27.03 billion kronor from26.54 billion kronor. However,sales in stores that had beenopen for more than a yeardropped 2%.

“There is some cannibalism,”Mr. Persson said, referring to theferocious speed at which H&M

has been opening stores in thepast few years.

“I don’t know exactly howlarge that effect is, but it is clearthat our same-store sales num-bers would have looked a lotbetter otherwise,” he added.

During the quarter, theworld’s No. 3 fashion chain byrevenue, behind U.S.-based GapInc. and Spain’s Inditex SA,opened 86 stores and closed 12.In the third and fourth quarters,H&M expects to open 180 stores,mostly in Germany, the U.S.,U.K., France, China and Italy.

Mr. Persson, who is 35 yearsold and the grandson of H&M’sfounder and son of the majority

owner, took over at the helm of the retailer a year ago. He saidhe was very pleased with salesin Asia and also singled out Rus-sia, where H&M plans to open upa flagship store on St. Peters-burg’s Nevsky Prospect later thisyear.

Positive numbers from U.S.stores also keep coming in, al-beit against weak year-earliersales, he said.

In Europe, meanwhile, thepicture is more patchy. “Irelandand Greece still look bad,” saidMr. Persson, but he added thatthere were improvements in It-aly and Portugal, two countriesthat have also be struggling withhuge fiscal deficits.

“A lot of countries will haveto tighten their budgets, and, of course, that will affect consump-tion,” Mr. Persson said.But de-spite overall consumption beinglower than it was in 2007, H&Mhas managed to steadily increaseits sales.

“People are shopping less butwe sell more,” Mr. Persson said.“That’s a good combination.”

BY JOHAN ANDERBERG

H&MWill Stay in ChinaDespite Likely Rise inCosts

A Hennes & Mauritz sales assistant replenishes stock at an H&M store in London on Wednesday.

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P2JW17603A-0-B00800-10010B220A0 06/25/2010 W EDE,DN,FW,HW,LA,RI,TS,UT

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