GENERAL MERCHANDISE NEWS
H&M sees sales surge
15 December, 2004 | by Retail Bulletin
November increase best of year
Swedish fashion retailer H&M is ending 2004 on a high note after recording its strongest sales increase for three years in November.
Sales for the month jumped by 24 per cent at constant exchange rates, the company’s highest monthly growth rate since October 2001. For the year to date, sales have risen 12 per cent at constant rates.
The increase compares to a rise of just 9 per cent last month. H&M’s previous best months of the year were June and August, which both saw sales growth of 15 per cent.
The leap in sales comes at the end of a year in which H&M opened its 1000th store, and has expanded into new countries including Poland, the Czech Republic, Portugal and Italy.
