H&M: the group saw its sales rise 14% in January
Budget fashion retailer Hennes & Mauritz reported on Monday a 14 percent year-on-year increase in January sales, its fourth consecutive month of double-digit local-currency growth.
In December, the first month of its financial year, the group already saw its sales go up 15%. A performance that announces strong numbers for the first quarter, which will close at the end of February and for which the numbers will be available on 24 March.
This increase can once again be attributed to the significant development of the group's store network between January 2014 and 2015. As of the end of January, it had approximately 3,541 stores around the world, compared to 3,184 a year earlier, both numbers incorporating all the brands (&Other Stories, H&M, Cheap Monday...).
Some 400 store openings are expected for the current financial year. Indeed, the group is planning on entering the India, South Africa, Taiwan and Peru markets.
For its 2013/2014 financial year, ended on 30 November, the H&M group totaled 19 billion euros in revenue, up 18%. Moreover, the head of the H&M, Cos and Other Stories labels generated 2.15 billion euros in net income, up 17%.
Fast-expanding H&M is the world's second-biggest apparel retailer after Zara owner Inditex.
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