Low-cost fashion chain H&M sees sales pick up after virus

STOCKHOLM (AP) — Low-cost fashion brand Hennes & Mauritz AB has seen its in-store sales rise 14% to 55.6 million kronor ($6.3 million) in the third quarter as pandemic restrictions are eased in many markets. The Stockholm-based retailing group said about 100 stores remain closed. It added that online sales soared 22%. H&M CEO Helena Helmersson noted that “the pandemic and its consequences are not yet over.” H&M’s profit after tax increased to 4.7 billion kronor ($536 million). A year earlier, it had reported a profit of 1.8 billion kronor.