Tags: EU | Sweden | Earns | H&M

H&M Sales Buoyed by Further Expansion, Cost Controls

Thursday, 29 June 2017 06:06 AM EDT

COPENHAGEN, Denmark (AP) — Swedish low-cost fashion brand Hennes & Mauritz AB says second quarter sales increased by 10 percent to 59.5 billion kronor ($7 billion) mainly because of its continued expansion and tight control on costs.

Its net profit for the three-month period rose by 10 percent to 7.7 billion kronor.

CEO Karl-Johan Persson says online sales developed "very well" while the group's other brands — COS, & Other Stories, Monki, Weekday and H&M Home — "remained very strong, both in stores and online."

However, sales were "more challenging" in several major markets, including the U.S. and China, among others.

The Stockholm-based group said Thursday that it added six new markets — Turkey, Taiwan, Hong Kong, Macau, Singapore and Malaysia — to its online offering during the period, taking the total to 41.

© Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Swedish low-cost fashion brand Hennes & Mauritz AB says second quarter sales increased by 10 percent to 59.5 billion kronor ($7 billion) mainly because of its continued expansion and tight control on costs.Its net profit for the three-month period rose by 10 percent to 7.7...
EU,Sweden,Earns,H&M
129
2017-06-29
Thursday, 29 June 2017 06:06 AM
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