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Rising Sales at H&M

Published onsdag 28 september 2005 kl 11.54

Swedish fashion retailer Hennes and Mauritz posted a higher-than-expected third quarter net profit Wednesday, thanks to rising sales.

H&M reported a 36 percent jump earnings, while sales rose 18 percent.

The high street chain says it expects to open about 70 stores and close around 10 during the fourth quarter, and is considering starting mail order and online sales.

Last week the chain dropped super model Kate Moss from its Fall advertising campaign, after she confirmed British tabloid reports that she had used cocaine.

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