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H&M achieves 18% rise in profit during Q4 2006
25 Jan '07
1 min read
Heavy sales and strong local currency have brought about 18 percent upsurge in profit for Stockholm based fashion retailer Hennes & Mauritz (H&M) during fourth quarter of 2006. H&M is among Europe's biggest clothing chains.
Net profit reached SEK3.8 billion (US $544 million) during the quarter ended November 30, 2006, as against SEK3.23 billion for same period 2005. Sales for the quarter upturned 8 percent to SEK19.5 billion ($2.8 billion).
There are 1,345 H&M outlets in 24 countries today. Company plans to open 170 fresh stores in North America, Europe and other nations this year.
Further, company will start a home textiles online store along with a catalog as well as a clothing chain 'Collections of Style' offering expensive garments during 2007.
Net profit reached SEK3.8 billion (US $544 million) during the quarter ended November 30, 2006, as against SEK3.23 billion for same period 2005. Sales for the quarter upturned 8 percent to SEK19.5 billion ($2.8 billion).
There are 1,345 H&M outlets in 24 countries today. Company plans to open 170 fresh stores in North America, Europe and other nations this year.
Further, company will start a home textiles online store along with a catalog as well as a clothing chain 'Collections of Style' offering expensive garments during 2007.
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