Hennes and Mauritz (H&M) have recorded a rise in sales despite the tough trading conditions that many high street retailers have fallen victim to in the UK.
The Swedish fashion retailer recorded a 12 per cent rise in sales for the first six months of 2012, whilst like-for-like sales increased by 3 per cent, when compared to the same time last year. Profits also increased from £392 million to £474 million for the second quarter of this year – an increase of 20 per cent.
Speaking of the rise in sales, Karl-Johan Persson, Chief Executive Officer of H&M, said: “The year started well and the positive trend continued in the second quarter. 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.
“H&M’s attractive customer offering is appreciated by customers in all our 44 markets, in big cities as well as small cities – and in both countries with strong economic growth and countries with a tough macroeconomic climate.”
With H&M’s success, the commercial property chain plans to open a further 275 stores, in addition to the 2,575 outlets they already have all over the world. As well as offering fashion garments, the group also owns various other brands, including; Cheap Monday, COS, Monki, Weekday and H&M Home.
Speaking of the expansion plans, Mr Persson stated: “Our expansion plan remains intact. We plan to open around 275 new stores net during the full-year.
“We continue to open new stores in all current markets and we will add five new markets during the year: Bulgaria, Mexico, Latvia, Malaysia and Thailand.”
Do you shop at H&M commercial properties? Do you think their success is down to affordable prices or do you think the fact that the company is the second largest clothing chain in the world has something to do with it?
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