H&M Group's Sales Up 12%; Plans U.S. Website
H&M says its latest quarterly sales rose 12% in local currency, with same-store sales advancing just 2%. Net profits rose 23%.
“The spring collections have been well received by our customers, as shown by our increased market share in a fashion retail market that continues to be challenging,” says CEO Karl-Johan Persson in its release, adding that the Swedish retailers remains on track in its plans to open an 275 new stores during the full-year, including its first in Bulgaria, Mexico, Latvia, Malaysia and Thailand.
In addition, he says, the company plans to launch its U.S. website this fall.