Swedish H&M Hennes & Mauritz clothier had a good 2012
The Swedish H&M fashion chain reports for the entire 2012 11 % higher sales in local currencies and 10 % higher net sales (excluding VAT Value Added Tax) totalling SEK 120799 million (SEK 109999 million) and a higher gross profit of SEK 71871 million (SEK 66147 million) corresponding to a gross margin of 59.5 % (60.1 %)
It was also a year of expansion by opening 304 (266) new stores, originally plans were only for 275 new stores. China and America were the largest expanding markets. The total network is over 2800 stores in 48 markets.
The fourth quarter showed an increase of 9 % in local currencies and sales of comparable units were unchanged. Net sales (without VAT) amounted to SEK 35502 million (SEK 30952 million). Sales in December increased by 8 % in local currencies and sales in January 2013 are expected to rise 5 %, however the cold weather in Europe has hampered the business.
During the financial year 2012/13 H&M plans to open around 325 stores and Chile, Estonia, Lithuania, Serbia and via franchise Indonesia will become new H&M markets during 2013.
The new fashion brand & Other Stories will open its first stores during spring 2013 in Spain, Germany, Denmark, Great Britain, Italy, France and Sweden. & Other Stories will also be available online in these countries as well as in Belgium, the Netherlands and Finland.
COS will expand to new countries in 2013 with stores in Oslo, Norway and Dubai (UAE). TDhe completely mobile-adapted H&M shop online was launched in eight existing online markets this January.