Hennes & Mauritz (H&M), one of the biggest clothing retailers in world, recently announced that in the second quarter of the current fiscal year, the company has experienced 31 percent rise in profit.
Sources believe that this boost is the result of well acceptance of newly opened stores and introduction of Madonna-branded collection.
Statistics show that net revenue earned in the three months through May 31 rose to 3.47 billion Swedish kronor, or $540 million (Canadian), from 2.65 billion kronor as compared to previous year earlier.
Sales grew 18 percent to 20.05 billion kronor. Net income for the first six months rose to 5.1 billion kronor.
Sources believe that this boost is the result of well acceptance of newly opened stores and introduction of Madonna-branded collection.
Statistics show that net revenue earned in the three months through May 31 rose to 3.47 billion Swedish kronor, or $540 million (Canadian), from 2.65 billion kronor as compared to previous year earlier.
Sales grew 18 percent to 20.05 billion kronor. Net income for the first six months rose to 5.1 billion kronor.
