H&M store expansion continues
Global growth for clothing retailer
September 19 2002
Swedish clothing retailer H&M saw turnover increase by 15 per cent in the first nine months of the year.
The group, which now operates more than 800 store worldwide, saw profits increase by 55 per cent, with improved results in all countries, including “very positive development in France, the USA and Spain.”
Faster stock turnover, along with supply chain improvements including shorter delivery lead times and a more even flow of clothes into stores have all helped to boost performance and reduce the need to discount surplus stock in store.
H&M has already opened 46 new stores this year and plans another 39 before the end of the year, including nine in German, eight in the USA and a similar number in Spain. Twelve stores will close this year.
