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H&M Shows Profit Despite Lower Margins

Swedish fashion retailer Hennes & Mauritz AB (HM-B.SK) Thursday reported first-quarter profit growth as it continued to lure customers with low prices, but its gross margin was hit by high cotton costs and increased markdowns due to the warm autumn weather. The world’s No. 2 fashion chain by revenue, behind Spain’s Inditex SA (ITX.MC), said its collections were received well ... Read More »

JetBlue Pilot Suspended Over Midair Fiasco

JetBlue has suspended Captain Clayton Osbon who seems to have suffered an apparent panic attack in midair that eventually led to passengers and flight crew to control and restrain him. “As of now, he’s been taken off all active duties and responsibilities pending further investigation,” JetBlue spokeswoman Tamara Young told ABCNews.com today. The FAA called the incident a medical emergency. ... Read More »