Fashion retailer H&M sees dollar headwinds easing by end of year

Swedish fashion retailer H&M has said headwinds from the strong dollar will ease by the end of 2016.

The company yesterday said its first-quarter profit fell less than analysts expected, boosting its shares by 5.5%.

The company also said it would open its 4,000th store this month, in New Delhi — a doubling of its store base from 2,000 in 2010 — and will bring online sales to 11 new countries this year, including Ireland and Japan.