Swedish retailer Hennes & Mauritz Chief Executive Karl-Johan Persson presents the company's result for 2013 during a news conference in Stockholm January 30, 2014. Heavy investment in its online ... more 
Swedish retailer Hennes & Mauritz Chief Executive Karl-Johan Persson presents the company's result for 2013 during a news conference in Stockholm January 30, 2014. Heavy investment in its online offering and new brands depressed fourth-quarter profits at Hennes & Mauritz and the world's No. 2 fashion retailer said it would keep expanding into more markets and products. The Swedish budget fashion retailer said pre-tax profit rose 11 percent to 7.3 billion Swedish crowns ($1.13 billion), missing average analyst forecasts for 7.6 billion. REUTERS/Leif R Jansson/TT News Agency (SWEDEN - Tags: FASHION BUSINESS) ATTENTION EDITORS - THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS. SWEDEN OUT. NO COMMERCIAL OR EDITORIAL SALES IN SWEDEN. NO COMMERCIAL SALES less 
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Reuters | Photo By TT NEWS AGENCY / REUTERS
Thu, Jan 30, 2014 6:49 AM EST