Fashion retailer plans move into Greece
Swedish fashion chain Hennes & Mauritz (H&M) has announced a 16 per cent increase in its first-quarter profits.

Profit after financial items was Skr2.68 billion (£196.7 million) on sales of Skr15.07 billion (£1.1 billion) for the period from December 1, 2005 to February 28. Gross margins were slightly down from 56.8 per cent to 56.5 per cent.

The company announced it would be expanding into Greece, opening an Athens store in Spring 2007.

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