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H&M to open 400 stores this year

H&M Group will open more than 400 stores this year, as the Swedish chain announced full-year sales increased by 14% in local currencies to SEK 176.6bn (£14.2bn).

Its Cos and & Other Stores brands will expand their footprints in particular, with plans to open more stores this year than in 2014.

Group profit after tax for the year to November 30 increased 18% to more than SEK 20bn (£1.6bn).

Sales in December increased 15% compared with the same month in 2013, and sales in January are expected to rise 14% year on year.

The group, which includes H&M, Cos, Monki, Weekday, Cheap Monday, & Other Stores and H&M Home, opened 379 stores in 2014 and now has more than 3,500 in 55 markets, including franchise stores.

“New markets planned for 2015 are Taiwan, Peru, Macau, South Africa and India,” said chief executive Karl-Johan Persson. “The greatest expansion will take place in existing markets where there is great potential to grow further.

“The most new stores will open in China and the US, but also in other large markets such as Poland and Germany.”

Readers' comments (2)

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  • Brand is called &Other Stories, not &Other Stores.

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