Clothing chain H&M nearly triples operating profit in first quarter

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Clothing chain H&M nearly triples operating profit in first quarter

Swedish clothing chain H&M Group nearly tripled operating profit in the first quarter of its financial year to 2.08 billion Swedish crowns ($4.6 billion), but sales fell slightly. The firm, which is the world's second-largest retailer of low-cost clothing, said so in an earnings report on Wednesday. The first quarter of the 2024 financial year, the firm closed on February 29.