Global Fashion Retail Giant H&M Net Profit Increased 25% In The Two Quarter
Sweden
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H&M, a retailer, said its net profit rose 25% in the second quarter, rising from 4 billion 200 million Kron to 5 billion 200 million krona, from 4 billion 200 million krona, to 5 billion 200 million krona, due to the devaluation of the dollar, the lower cost of raw materials and the increase in efficiency.
Compared with the same period last year, sales of value added tax increased from 26 billion 500 million kronor to 27 billion Krona in three months.
The second largest European clothing chain said in its report on Thursday that sales started well this quarter, but most markets were affected by cold weather in four and May.
Nevertheless, the gross profit margin of the quarter increased from 61% in the previous quarter to 65.9%.
Headquartered in Stockholm, H&M has more than 76000 employees in over 35 countries.
Because of the cold weather and weak market, the gross profit margin of 65.9% is only slightly higher than that of the previous 65.1%.
The company announced an expansion plan to open a new store in Amsterdam, and plans to enter the Turkey market in November and continue to expand business outlets in China and Europe.
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