H&M records a 14% jump in annual sales
The H&M group saw its sales go up 10% in November, and this at a constant exchange rate. In the last quarter of its financial year, September to November, sales grew 11%, at a constant exchange rate and rose (taxes included) nearly 50 billion Swedish crowns, or 4.2 billion pounds.
H&M, which won't be publishing its annual report until 28 January, mentions a 14% jump in sales for the 2013/14 financial year. September, with +8%, was the only month to not see double-digit growth. But, as regularly pointed out by analysts, performances are of course also tied to expansion of the network, under the H&M chain but also COS and & Other Stories, first and foremost. Thus, in one year, the global network increased from 3132 units to 3511, or a 12% increase in the points of sale! An increase that is undoubtedly even more impressive in the number of square feet.
For the 2012/2013 financial year, H&M was still referring to the developments in continuous bases. That year, revenue went up 9% but was stable on a comparative basis.
1 euro = 1.24 US$ = £0.79
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