H&M sales growth lifts
Fashion retailer sees strong January
February 17 2004
Swedish fashion retailer Hennes & Mauritz saw stronger month-on-month sales growth in January, with a total increase of 14 per cent at constant exchange rates.
The figures are better than the 11 per cent reported for December, as well as indicating that H&M has upped its sales growth after reporting 9 per cent growth recorded for the total year to the end of November compare.
However, the 14 per cent growth rate is below that of January 2003, when H&M saw sales increase by 18 per cent.
The company admitted recently that it found sales harder to come by in its biggest markets, Germany and Sweden, in a generally tough market for fashion retailers in the second half of last year.
H&M continues to drive growth through store expansion. It has just agreed a deal to buy the 10-strong store chain in Germany currently owned by US retailer Gap, as part of 140 store openings planned for this year.
