Swedish clothing giant Hennes and Mauritz (H&M) on Thursday reported a jump in net profit last year and announced plans to expand further into new markets, including online.
Buoyed by a hike in sales, the company, whose fiscal year runs from December 2014 to November 2015, said net profit rose by four percent to SEK20.9 billion (USD2.5 billion).
H&M said it planned more than 400 new stores for the coming financial year, mostly in markets where the group is already present.