H&M Profits Down for the First Time in Five Years; Oprah Delves Into William Rast

By
Photo: Shanna Ravindra

• H&M's first-quarter profits fell 12 percent due to adverse currency-exchange rates, marking the first time the chain has reported a loss in five years. Sales grew 18 percent thanks to new store openings, but not counting those, sales fell 5 percent. [WWD]

• Ugh, Hugo Boss's net losses for the fourth quarter of 2008 were $20.6 million, or 27 percent. [WWD]

• Justin Timberlake is going on Oprah today, live, to talk about his William Rast line. If that's not a good reason to "get sick" at the end of the day today so you can go sit in front of a TV, we don't know what is. [WWD]

• Courtney Love is having a feud with the Etsy.com designer of label Boudoir Queen. The designer says Love's trying to get her kicked off the website. [E! Online]

Hills executive producer Adam DiVello reportedly went on a tirade at a cast photo shoot for the series because he was pissed that Audrina got a deal for her own reality show. When she left, he started cursing her in front of the rest of the cast and crew. Because equally vapid overly tanned brunettes are so rare. [NYP]