H&M FQ1 Net Profit Rises 4.6%

Hennes & Mauritz AB

reported a 4.6% rise in its fiscal first-quarter net income. H&M's quarterly earnings climbed to 2.74 billion kronor ($411.2 million), or 1.65 krona per share, versus 2.62 billion kronor, or 1.58 krona per share, in the year-ago period. Its sales rose to 27.83 billion kronor from 24.5 billion. H&M's comparable-store sales gained 3%. H&M's gross-profit margin declined to 55.8% from 57.8%. H&M shares closed at $7.47 yesterday.