Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shoppers began their summer spending spree boosting Swedish fashion giant H&M, which today reported a strong surge in profits.
Investments in new shops across the globe and expansion online helped the world’s second-largest fashion retailer, behind Zara owner Inditex, post a 26 per cent rise in operating profits to SKr7.6 billion (£647.2 million).
The retailer’s brands, which include Cos, & Other Stories, Monki and Cheap Monday, all performed strongly in May as sales rose, the company said, adding that June had begun well.
H&M chief executive Karl-Johan Persson said: “We are seeing some of our long-term investments starting to generate revenues such as & Other Stories and our online store in the US and in France.”
The cheap chic retailer, which has 3,285 stores, revealed plans to expand its shoe range in autumn and launch online shops in eight to 10 countries next year.
Verdict senior retail analyst Honor Westnedge said: “H&M has a great position in the value market. People go there for better quality clothes and interesting new products, which it has invested in.”
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments