Second-quarter profits of H&M get a 23% boost on back of strong sales

The Stockholm-headquartered group also said it plans to launch online sales in the United States in the second half of 2012 and that it expects to inaugurate its new store concept “& Other Stories” sometime next year.

The group reported a net profit of 5.22 billion kronor (US$745 million) in the March to May period, up sharply from 4.3 billion kronor recorded in the same quarter a year ago.

Sales climbed to nearly 37 billion kronor in the three-month period, compared with 32.4 billion in the same three months in 2011.

The group said the high price of cotton, which took its toll on the company's profits in the previous quarter, has normalized.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Leaders weigh stimulus vs. austerity at G-20

NEXT ARTICLE
Silicon Valley Bank to invest up to US$100 million in Ireland startups

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit