On Tuesday, Sweden's Hennes & Mauritz AB reported about its higher profit for the first quarter. What is more commendable, the rise has come even after pressure from strong dollar.

However, it is being said that the stronger dollar will result into increased purchasing cost in the coming quarters of 2015. "Although the strong U. S. dollar will affect our sourcing costs going forward, we will make sure that we always have the best customer offering in each individual market", said Chief Executive Karl-Johan Persson.

In the three months ended on February 28, net profit for the company in terms of sales increased 36% to 3.61 billion kronor. Analysts had predicted a net profit of 3.37 billion kronor.

Excluding VAT, sales increased 25% to 40.28 billion kronor last year. The world' second largest clothes retailer is planning to open as many as 400 stores this year. Majority of the new stores will be opened in China and United States.

Along with this, the company said that it will continue to focus on its online expansion. It will have several online launches this year. As of February 28, H&M had 3,551 stores, the number is up from 3,192, which was a year earlier.

Persson said that in terms of both sales and profits, they have made a good start in 2015. As per him, their customer offering and strong expansion are among the reasons for increased market share gains and good profits.

The company said that its sales in period March 1 to 21, 2015 has increased 9% in local currencies in comparison to the same period last year. There are chances as said that the strong US dollar would affect the company's performance. But Persson said that the company would ensure that it always has the best customer offering each individual market.