H&M increases quarterly turnover 21 % | RetailDetail

H&M increases quarterly turnover 21 %

H&M increases quarterly turnover 21 %

Swedish fashion group Hennes & Mauritz has managed to increase its third quarter turnover 21 % compared to last year's third quarter, "thanks to the introduction of new brands and growing internet sales".

Incredibly strong August sales

 

The world's second largest fashion group managed a 38.8 billion krona (4.2 billion euro) turnover excluding VAT in the three months leading up to 31 August, a 21.1 % growth compared to the same period in 2013.

 

August joins May as the strongest months of the year, turnover growth wise. Except for June, H&M sold more every month compared to the same month last year.

 

Internet and broader range of items

 

The fact that the American economy is picking up again, that H&M has increased its online presence (with a first web shop in Spain, the country of its competitor Inditex) and that it now has a broader range of products (with the successful expansion of & Other Stories and home decoration items) have all been very good for H&M in the past quarter. 

 

The Swedish group had 3,341 stores worldwide at the end of August, a sizable increase compared to the 2,964 stores it had a year ago.

Questions or comments? Please feel free to contact the editors


Colruyt Group beats expectations

19/06/2018

A solid holiday season allowed Belgian Colruyt Group to raise its market share and even keep its profit margins at the same level - contrary to expectations. The company also posted another online growth, meaning online is now worth 370 million euro.

Makro Belgium "in intensive care", new business plan should remedy

18/06/2018

A more professional product range and a return to bigger packages: that is how Makro Belgium wants to return to better ways. Its CEO Vincent Nolf admits the chain is currently "in intensive care", but hopes to see improvement already next year.

Online supermarket Wink.be throws in the towel

18/06/2018

The Belgian Louis Delhaize Group has decided to terminate its online supermarket Wink.be. The company was started in 2013, but never even came near reaching the break-even point.

Alter’Native Food: A place apart at the upcoming SIAL Paris !

14/06/2018

(Advertorial) From 21st to 25th of October, Paris will be the world's food capital. 7,200 French and international exhibitors will be presenting their innovations among 21 exhibitions sectors.

Jumbo starts Belgian daughter company

13/06/2018

Dutch supermarket chain Jumbo has made another important step towards its expansion in Belgium: it has founded the company "bvba Jumbo Belgium".

Agreement at Carrefour Belgium: fewer redundancies, no store closures

13/06/2018

Trade unions and management have finally reached an agreement at Carrefour Belgium, which will be presented to the employees later this week. An early retirement scheme has however shocked some of the political parties.