H&M looks forward to Double its Sales by the Year 2030

STOCKHOLM: Swedish fashion group H&M drew a line under the pandemic on Friday, reporting a bigger than expected jump in quarterly profit and hiking investment with the aim of doubling sales by 2030. Shares in the world's second-biggest clothing retailer leaped 5% in early trade after it said it would double investments in 2022 to around 10 billion Swedish crowns ($1.1 billion) to help achieve its new target. Spending will focus on areas including technology, the supply chain, renewable energy, and sustainable materials, it said.