BUSINESS

Swedish fashion chain H&M sees Q2 profits soar on strong sales, success for spring collection

06/20/2012 02:18 EDT | Updated 08/19/2012 05:12 EDT
STOCKHOLM - Swedish fashion retailer Hennes & Mauritz AB says its second-quarter profits soared by around 23 per cent thanks to a particularly strong sales performance of its spring collection.

Wednesday's report showed a net profit of 5.22 billion kronor ($745 million) in the March to May period, up sharply from 4.3 billion kronor recorded in the same quarter a year ago.