Quarterly profits jump at H&M

The Swedish-owner of H&M, Cos and Arket, among others, saw net sales rise just 1% in local currencies in the three months to 31 August to SEK57.2bn (£4.4bn), while operating profits soared to SEK6bn from SEK4.9bn a year previously, comfortably ahead of forecasts. The operating margin expanded to 10…