The Associated Press is reporting that Hennes & Mauritz AB posted higher than expected profits for the third quarter thanks to rising sales.
Earnings for the three months ending Aug. 31 were 2.16 billion kronor ($276 million), up 36 percent from 1.59 billion kronor a year ago.
Sales rose 18 percent to 15.16 billion kronor ($1.9 billion) from 12.84 billion kronor in the same period last year.
H&M said it expected to open about 70 stores and to close about 10 in the fourth quarter. Most of the stores will be opened in North America. It also said it is considering starting a mail order and online business in the Netherlands.