H&M ups its game

Sales at Swedish fashion retailer H&M increased 11 per cent in the first three months of the financial year to Skr16.77 billion (£1.22 billion).

H&M Group reported profit after financial items of Skr3.41 billion (£248.7 million) - an increase of 27 per cent. Group profit after tax was Skr2.30 billion (£167.8 million), corresponding to Skr2.78 (20p) a share.

The retailer delivered gross profit of Skr9.88 billion (£720.1 million) and operating profit of Skr3.22 billion (£234.8 million).