H&M's Irish sales rise as localised web store launches

By

Sandra Halliday

Published
Apr 10, 2017

H&M’s group sales in Ireland have been rising relatively strongly with growth in the country just topping that of the retail giant’s overall global growth in the fiscal year ended November 2016.

The company’s annual report showed that it had sales of nearly €115 million in Ireland last year, up a healthy 7.5% compared to a 7% increase for the group as a whole. It achieved the rise, after selling €106.8 million worth of goods in the previous year, despite adding no stores to its existing count of 23 H&M and Cos locations.

But it did launch a dedicated Irish online store with the opening of the website being further evidence of how localising web operations can win over customers to a brand’s e-store.

The company has continued to focus on the Irish market since its year-end and opened a store for its & Other Stories brand in December. It set up shop on Dublin’s key Grafton Street.

It is unclear whether the retailer’s increased sales will translate into higher profit as it has not broken out individual figures for country profits. But last September it filed documents with Ireland’s Companies Registration Office showing that for the previous year, its Irish subsidiary had seen profits dropping by half and margins dented. Those drops came as staff costs rose and the strong US dollar increased the cost of goods that it bought.