Hennes & Mauritz AB, Europe’s second-biggest clothing retailer, reported the strongest quarterly profit growth in more than four years as new store formats and online expansion fueled sales growth.
Net income rose 25 percent to 5.81 billion kronor ($870 million) in the three months through May, Stockholm-based H&M said in a statement today. The average of 16 analyst estimates compiled by Bloomberg was 5.63 billion kronor. Sales have got off to a good start in June after rising 20 percent to 37.8 billion kronor in the second quarter, the company also said.
