Low cost companies seem to be announcing a change of trend in the market with a notable improvement in their accounts. After the new annual record for the benefit of Inditex H & M also boasts growth, nothing less than of a increase of 36% in the net profit in the first three months of its current fiscal year (from 1 December to 28 February): 3,613 million kronor)388 million euros).
This quarter has been very favorable for the Swedish group. H & M sales increase 25% during this period, to 40.276 million crowns (about 4.326 million euros).
Karl-Johan Persson, CEO of the company, highlights the strong expansion of H & M, that during these months has come to Taiwan with its first store in Taipei and in 2015 has open nine new European markets for your online store: Portugal, Belgium, Czech Republic, Poland, Romania, Slovakia, Hungary and Bulgaria will open in the spring and that of Switzerland will be available in the fall. H & M will come to Peru, Macau, South Africa and India with new stores in the coming months, expanding its network in 400 new stores.
H & M closed the first three months of its fiscal year with 3.551 shops, of which 3.295 are H & M, the rest are divided among five brands: COS with 117, with 93 Monki, Weekday with 21, & Other Stories with 20 and Cheap Monday with 5.
H & M continues to grow in Spain
Sales of H & M increase in Spain, passing of the 1,524 million kronor (163,71 million euros) to 1.816 million (195 million euros), which is a rise of 19%. February 28, 2015 H & M had with 163 stores in our country, one more over the same period of last year. Spain is the seventh country with more shops of the H & M group.
This improvement in Spain places that market as the eighth in the list of H & M for volume of sales, behind Germany, in first place with 8,671 million crowns, United States, United Kingdom, France, China, Sweden and Italy.