OREANDA-NEWS Net income for Hennes & Mauritz (H&M), the world's largest apparel retailer, more than doubled in the first half of its fiscal year, which ended May 31, according to the company's website. H&M grew earnings 2.3 times in the first half of fiscal year 2021-2022, reaching $387.9 million in the same period last fiscal year.

The company said in a report that on a per-share basis, H&M's earnings were $0.23 versus $0.1. Revenue showed a 20% increase, rising to $10.05 billion.

On June 7 Telegram-canal Mash reported that H&M stores will not reopen in Russia until September this year. However, only after this date the Swedish company intends to make a decision on the reopening of stores.

At the beginning of March H&M reported about the suspension of sales in Russia. Stores in Ukraine were also closed in order to "ensure the safety of customers and colleagues," the retailer said.