H&M Sees 158% Gain in Q3 Net Profits - NewsBreak

Click here to read the full article. PARIS – H&M Group saw profit after financial items of 6.09 billion Swedish kronor, or $694.8 million at current exchange, in the three months to Aug.31, an increase of 158 percent compared with the same period a year ago. "The H&M group's increase in profit for the quarter is mainly a result of well-received collections with more full-price sales, lower markdowns and good cost control," said chief executive officer Helena Helmersson. "With our continued transformation and our well-positioned customer offering we are optimistic that we will see long-term, profitable and sustainable growth."More from WWDH&M's...