Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

H&M sales up 21% in second quarter

Swedish fast-fashion giant H&M increased sales by 21% to SEK 45.9bn (£3.5bn) in the second quarter to May 31, while gross profit increased by 18% to SEK 27.2bn (£2.1bn).

During the period H&M opened its first store in Lima in Peru and launched in eight new online markets – Poland, Portugal, Romania, the Czech Republic, Bulgaria, Slovakia, Hungary and Belgium – which were said to be very well received.

Sales from June 1 to June 23 increased by 14% in local currencies compared to the same period last year and it also opened its first store in Macau this month.

The group, which includes the COS, Monki, Weekday, Cheap Monday, & Other Stories as well as H&M Home fascias, is planning a net addition of around 400 new stores during the financial year 2014/15.

“The strong sales development has continued for all our brands with a sales increase in SEK of 23% excluding VAT during the first half-year,” said chief executive Karl-Johan Persson. “Including VAT, this means that sales in the first half amounted to more than SEK 100bn (£7.7bn).

@Tara_Hounslea

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.