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H&M posts profit increase of 20 percent in Q3
(MENAFN) Swedish clothing retailer Hennes & Mauritz (H&M) announced posting a profit increase of 20 percent in the third quarter of 2014, driven by an increase of online sales, QNA reported.
H&M earned a total of USD735 million in profits in the July-September quarter, while sales, excluding value-added tax, rose 21 percent compared to the same period of 2013.
The Swedish retail sales giant reported its stronger sales in China, Italy, Britain, France, Germany and the US, while the new online stores in France, Spain, Italy and China had paid off.
H&M earned a total of USD735 million in profits in the July-September quarter, while sales, excluding value-added tax, rose 21 percent compared to the same period of 2013.
The Swedish retail sales giant reported its stronger sales in China, Italy, Britain, France, Germany and the US, while the new online stores in France, Spain, Italy and China had paid off.
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