Sweden's news in English

Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Record profits for H&M

Share this article

17:59 CEST+02:00
Photo on first page: Copyright: H&M / Source: www.imagebank.sweden.se

Hennes & Mauritz recorded record profits of 2.3 billion kronor for the first quarter of the year. Stockholm's bourse reacted promptly with shares in the company rising by 4% to 256 kronor on Wednesday morning.

H&M's managing director, Rolf Eriksen, puts the figures down to better than expected Christmas sales.

"We've only needed to drop our prices slightly in January and February," Eriksen told DN.

H&M continues to expand with 61 new stores planned for the second quarter of the year, 12 of which will be in Germany. Spain and Poland are to get 6 new stores each. During the same period last year 50 new stores opened.

By the end of the year H&M expect to have 1200 stores worldwide in twenty-two countries.

Germany, representing 30% of H&M's overall market, was said to have delivered disappointing results. The company's best-performing stores in the first quarter of the year were in the Nordic region, Spain, France and North America.

Get notified about breaking news on The Local

Share this article

From our sponsors

How to work 9-5 and travel the rest of the time

A full-time job shouldn't stop you from satisfying your wanderlust. The Local spoke to Travel After 5 blogger Alline Waldhelm to find out her tips and tricks for travellers who only have 25 days of annual leave.