H&M has spring in its step after big rise in profits

Swedish fashion retailer Hennes and Mauritz (H&M) has reported a 20% rise in quarterly profits following "very strong sales" of its spring collection.

In the three months to 31 May, its net profit was 5.2bn kronor ($745m; £474m), compared with 4.3bn kroner last year.

H&M's sales for the period, its second quarter, rose 15% to 31.7bn kronor.

The company, the world's second-largest clothing chain, said it was on target to open a further 275 shops around the world this year.

H&M currently has 2,575 global outlets.

Source & Image : BBC