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H&M sees 'strong' spring sales H&M sees 'strong' spring sales
(35 minutes later)
Swedish fashion retailer Hennes & Mauritz (H&M) has said "well-received" spring collections led to a "strong" second quarter.Swedish fashion retailer Hennes & Mauritz (H&M) has said "well-received" spring collections led to a "strong" second quarter.
The firm, one of the world's biggest fashion retailers, posted a pre-tax profit of 7.6bn Swedish kronor (£670m; $1.1bn).The firm, one of the world's biggest fashion retailers, posted a pre-tax profit of 7.6bn Swedish kronor (£670m; $1.1bn).
The company added that it had seen a "good start" to its sales in June after an almost 20% increase in May.The company added that it had seen a "good start" to its sales in June after an almost 20% increase in May.
From March to the end of May, H&M saw sales excluding VAT of 37.8bn kronor.
It said its first shop in Australia, which opened in April, had a "fantastic reception".It said its first shop in Australia, which opened in April, had a "fantastic reception".
The firm also saw good online sales in France.The firm also saw good online sales in France.
"We have had a good second quarter, with a strong increase in both sales and profits and increased market share," said H&M chief executive Karl-Johan Persson."We have had a good second quarter, with a strong increase in both sales and profits and increased market share," said H&M chief executive Karl-Johan Persson.
"All our brands - H&M, COS, & Other Stories, Monki, Weekday, Cheap Monday and H&M Home - enjoyed good sales development during the second quarter."All our brands - H&M, COS, & Other Stories, Monki, Weekday, Cheap Monday and H&M Home - enjoyed good sales development during the second quarter.
"We are very pleased that H&M Sport, which we are broadening further, continued to gain market share within the sports segment," he added."We are very pleased that H&M Sport, which we are broadening further, continued to gain market share within the sports segment," he added.
The company plans to extend its range of shoes in the autumn.The company plans to extend its range of shoes in the autumn.