H&M yearly sales up 7% in 2015-16, 427 new stores opened

By

Matthieu Guinebault

Translated by
Nicola Mira

Published
Dec 16, 2016

The Swedish apparel giant recorded a 7% sales rise in local currency, and a 6% one in Swedish kronor, reaching SEK 222 billion (€22.8 billion) in its latest fiscal year, closed at the end of November 2016.

After a short-lived slump last September (-1%), followed by a 10% rise in October, H&M finished the year on a high note, with a 9% revenue rise in local currency in November. The last quarter generated SEK61.1 billion in revenue, equivalent to a 7% rise in local currency and an 8% one in kronor.
 
These are all final estimates, to be confirmed in the official report for the 2015-16 fiscal year due to be published on 31st January 2017.

The H&M group reported for its previous fiscal year a figure of €22.7 billion in sales, equivalent to a 19% rise (+11% in local currency). The group's declared objective was to open 425 new stores in the current year, and H&M has actually surpassed the figure by two stores, ending the 2015-16 fiscal year with a total of 4,351 shops.