SWEDEN: H&M sales growth fuels FY profit rise
- Full-year profit up 7% to SEK16.4bn
- Sales up 15% to SEK101.4bn
- Reports good trading in December and January
The Swedish retailer added 240 more stores to its portfolio
Clothing retail giant H&M has posted a 7% rise in full-year profit, boosted by revenues from 250 new stores.
The Swedish company said sales in the year to 30 November had risen 15% to SEK101.4bn (US$13.9bn), with group profit up 7% to SEK16.4bn.
Fourth quarter sales were up 6% to SEK28bn, while gross profit increased 13% to SEK18.6bn, and group profit surged up 21% to SEK6.2bn.
H&M said it planned to add a net total of 240 stores in the new fiscal year, after opening about 250 last year - more than originally planned.
Updating with early figures for the new fiscal year, the company said sales in December had risen 15% in local currencies, and had further risen 13% in local currencies in the period of 1-26 January.
Click here for just-style's editorial insight on H&M's full-year results.
Even if Forever 21 was exploiting high teenage pregnancy rates in the US states where it sells maternity wear, it's surely within its rights to do so. ...
The American Apparel & Footwear Association (AAFA) has welcomed the renewal of a total ban on US imports from Burma - and called on President Obama to ratify it as soon as possible....
Lifestyle brands company VF Corporation posted a record second quarter profit, buoyed by revenue surges for its Outdoor & Action Sports and Contemporary Brands businesses, up 12% and 18% respectively....
Footwear specialist Deckers Outdoor Corporation posted a second quarter profit of US$8.9m, boosted by above-plan sales rises for its Ugg and Teva brands, plus soaring international and retail revenues...
Trade event Sourcing at Magic will showcase more than 700 apparel and footwear manufacturers this year as it finds its feet as the major fashion sourcing event in North America. ...
Here is a roundup of the top five most-read stories on just-style this week. Click on each headline for the full story. ...
UK clothing retailer Marks and Spencer has today (23 July) announced plans to close four stores in eastern England. ...
- SOURCING: Worldwide change in cost competitiveness
- Gap audits reveal compliance issues in Myanmar
- Water scarcity a challenge to cotton supply chains
- Li & Fung looks to new frontiers for growth
- ANALYSIS: Back-to-school spending a waiting game
- Adidas to use only Bluesign-approved chemicals
- Scientists hail first recycled cotton garment
- Accord and Alliance discord "a setback"
- Weak traffic slows sales for Abercrombie & Fitch
- Myanmar and US to develop labour rights initiative
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global market review of denim and jeanswear – forecasts to 2020
- Wool in the 21st Century: new prospects for a familiar fibre
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- China - ISA Country Report