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H&M like-for-likes edge up in January

Swedish fast fashion giant H&M’s group like-for-like sales crept up 1% year-on-year in January.

Total sales rose 9% on a year earlier at the retailer which has 2,210 stores worldwide, 223 more than the same time last year.

In 2011, H&M will open around 250 stores in existing markets and new markets including the US, Romania, Croatia, Singapore.

In its full year to November 30, like-for-likes rose 5% and total group sales excluding VAT were up 15% in local currencies. Sales were up 7% to 108.5bn krona (£10.6bn). It said cotton price rises had impacted the last three months of its financial year.



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