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H&M to open 400 new stores in FY 2014-15

Swedish fashion retailer Hennes & Mauritz (H&M) has said "strong" store and online expansion led to improved sales and profits in the first quarter.

The firm, one of the world’s biggest fashion retailers, reported net profits of SEK3.6 billion (USD425.5 million), up 36 percent from a year earlier.

H&M plans to open about 400 new stores in the 2014-15 financial year, with some new stores in Taiwan, Peru and Macau in the first half of 2015, and in South Africa and India in the second half.

(Source: BBC News )