Swedish fashion giants H&M Group has seen its turnover grow 6% in its previous fiscal year (from 1 December 2012 to 30 November 2013), amounting to 9 % in local currencies.
Strong fourth quarter
H&M Group had a 14.6 billion euro turnover last fiscal year, while gross profit grew from 8.1 billion euro to 8.6 billion euro and net profit reached 1.95 billion euro. The group has also opened another 356 new stores last year. Fourth quarter turnover grew from 3.7 billion euro to 4.1 billion euro, resulting in a 0.63 billion euro net profit.
“2013 ended strongly with well-received autumn collections, which increased our sales in the fourth quarter by 13 percent in local currencies”, CEO Karl-Johan Persson said in a press release.
New markets, both online and offline
H&M Group has planned quite a bit for the current fiscal year, as it aims to open another 375 new stores. Among those, the very first stores in Australia and the Philippines. H&M wants to reach another 4 countries online, among which France where it aims to open a web shop in the first part of 2014.
H&M will also focus on new parts of the market, with further & Other Stories expansion. That chain will get a store in both Belgium (Antwerp) and the Netherlands (Amsterdam). A extensive H&M Sport collection should boost H&M Group this year.