Swedish fast fashion maker H&M’s June sales rose seven per cent compared to June last year. The flagship H&M brand has or will establish eight new online stores globally this year, with a site planned for India next year, and is now available in 41 markets. The new Arket banner announced in March will launch with 18 online markets this year.
As on June 30, the total number of stores globally were 4,517, up from 4,095 stores a year ago. Some 500 new stores are set to open this year. New and remodeled H&M stores will include new forms of visual expression for a more inspiring in-store experience. Expectations are for online sales to grow by at least 25 per cent each year going forward.
Along with its brick-and-mortar footprint, the launch of new global brands is essential in the retailer’s growth strategy. The value of the COS brand is expected to reach revenues of around 1.19 billion dollars this year with profitability in line with that of the H&M brand.
H&M will publish the group’s sales per quarter instead of per month. Sales for the quarter will be published ahead of each interim report as the percentage change in local currencies and in Swedish kronor, as well as in absolute figures in Swedish kronor, both including and excluding the European value-added tax.
