H&M passes the EUR 100 mln sales mark in Romania

Newsroom 30/01/2014 | 11:31

The H&M Group’s sales including VAT increased in local currencies by 9 percent during the financial year. Sales in comparable units were unchanged. Converted into SEK, sales excluding VAT amounted to SEK 128,562 m (120,799), an increase of 6 percent.

More than 12,000 new jobs were created in the H&M Group in 2013. The number of employees amounted to more than 116,000 (104,000) by the end of the year.

“2013 ended strongly with well-received autumn collections, which increased our sales in the fourth quarter by 13 percent in local currencies. Profits after financial items increased by 11 percent to SEK 7.3 billion. This is a good result considering the substantial long-term investments that we are making in areas such as IT, online, new brands and broadening our product range” – CEO Karl-Johan Persson.

Romania

H&M posted sales of EUR 101 million in Romania in its 2013 financial year, up some EUR 72 million on the previous year. Its sales in local currency went up by some 42 percent, according to its data.

Based on the 2013 sales, Romania is a medium income market for H&M, whose best performing market was Germany, with EUR 3.5 billion in sales, and a chain of 418 stores. In its home country Sweden, H&M had less than a third of Germany’s sales, and 177 stores.

Other countries with sales comparable to Romania’s for H&M were Turkey, South Korea, Hungary, Greece, the Czech Republic, and Portugal.