H&M Revenues Pass €50 Million Mark This Year in Croatia
- by croatiaweek
- in Business
Swedish multi-national clothing firm Hennes&Mauritz (H&M) have announced on Thursday that profits in the first 9 months of 2014 grew 19% from the same period last year…
Huge growth in online sales, and an expansion in their range have been instrumental the clothing brand said in its press release. In the 3-month period from 1 June until the end of August, profits totalled 764 million euros, which was 20% more than the same period last year. In the first 9 months of this year, total revenues were 11.7 billion euros.
In Croatia, where H&M operate 14 stores, revenues totalled just over 59 million euros in the first 9 months of the year, 10%, or 5 million euros more than the same period last year. In the 3-month period from June-August, revenues in Croatia totalled 21.7 million euros, 2 million euros more than the same period last year. H&M do business on 41 markets, with Croatia in 29th place in terms of size of total revenues. Croatia is one of the most recent markets H&M have begun operating in.
In August H&M opened its first online store in Spain, and have announced that it will expand its online business to around 10 markets next year.
