Local H&M stores report EUR 37 mln sales for nine months last year

Between March and November 2011 Swedish fashion retailer H&M reported local sales worth SEK 331 million (approximately EUR 37 million, VAT included), according to the company’s financial report.

H&M runs 11 stores in Romania out of total 2,500 globally.  Six of the local H&M stores are in Bucharest. The first local H&M store was opened last year in March in AFI Palace Cotroceni.

The retailer will resume expansion this year by opening five stores outside of Bucharest, said Mediafax citing inside sources. The new stores will open in Iasi (Palas commercial center), Arad (Armonia Mall), Craiova (Electroputere), Braila and Suceava

Globally the retailer’s sales reached SEK 129 billion (EUR 14.6 billion), up sec SEK 2 billion y-o-y. Most of its sales were generated in Europe with Germany being its largest market.

Simona Bazavan

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