The Swedish group has reached a revenue of 232,765 million Swedish krona (24.6 billion dollars). In local currencies, group sales rose 6%.
H&M reaffirms itself in the fashion podium. The Swedish giant has ended its fiscal year 2019 with a 11% growth, the highest since 2015. The revenue of the group stood at 232,765 million Swedish krona (24.6 billion dollars).
In local currencies, the company grew 6%, according to data shared today by the company. H&M thus begins to see the rewards of its restructuring, with the highest growth since 2015, when it grew by 19%. The following year, the company’s sales rose by 6%, in 2017 they grew by 4% and in 2018, by 5%.
In the fourth quarter, H&M sales increased by 9%, partially weighed down by calendar effects, mainly because Black Friday this year fell a week later, just before the end of the month of November. Therefore, about 500 million Swedish krona (53.3 million dollars) in sales of this period already correspond to the month of December. Discounting this impact, growth in the fourth quarter was 10%. H&M will publish its full-year report on January 30.
H&M Group is the owner of chains Cos, Monki, Weekday, & Other Stories, H&M Home, Arket and Afound. The company is present with its online business in 51 countries and has more than 5,000 stores in 74 markets worldwide. The group was founded in Sweden in 1947 and has been listed on the Stockholm stock exchange since 2008.