Breaking News, World News and Taiwan News.

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

STOCKHOLM--Swedish fashion retailer Hennes & Mauritz AB on Wednesday recorded a near 23 percent rise in its second-quarter profits, citing a period of strong sales of this year's spring collections.

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.

Write a Comment
CAPTCHA Code Image
Type in image code
Change the code
 Receive China Post promos
 Respond to this email
WSJA
Subscribe  |   Advertise  |   RSS Feed  |   About Us  |   Career  |   Contact Us
Sitemap  |   Top Stories  |   Taiwan  |   China  |   Business  |   Asia  |   World  |   Sports  |   Life  |   Arts & Leisure  |   Health  |   Editorial  |   Commentary
Travel  |   Movies  |   TV Listings  |   Classifieds  |   Bookstore  |   Getting Around  |   Weather  |   Guide Post  |   Student Post  |   English Courses  |   Terms of Use  |   Sitemap
  chinapost search