Summary Box: Discounts, higher costs ding H&M net (AP)
PROFIT DROP: Swedish fast-fashion retailer Hennes & Mauritz AB on Thursday said fourth-quarter net income dropped 2 percent on higher raw material costs and heavy discounting to attract customers during an economic downturn.
GROWING: But the company's revenue increased 4 percent, and H&M said its market share is growing.
DIGITAL: H&M plans to launch online sales in the U.S. this year. It also intends to open 275 new stores, including its first Latin American store, in Mexico.
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