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 sees quarterly sales and profits jump

Swedish fast fashion retailer H&M has reported sales for the first quarter to February 28 increased 25% to SEK 40.3bn (£3.2bn) and gross profit increased by 26% to SEK 22.2bn (£1.7bn).

For the period March 1 to March 21, group sales increased 9% in local currencies compared to the same period last year.

The group, which operates H&M and other brands COS, & Other Stores, Monki, Weekday and Cheap Monday, is planning a net addition of 400 new stores this year, with new markets for expansion including Taiwan, Peru, Macau, South Africa and India.

“We have made a very good start to 2015 – in terms of both sales and profits,” said chief executive Karl-Johan Persson. “Our attractive customer offering and strong expansion both through stores and online, as well as our work on continuous improvement, are among the reasons for increased market share gains and good profits.

“Although the strong US dollar will affect our sourcing costs going forward, we will make sure that we always have the best customer offering in each individual market.”

@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.