Sweden’s largest purveyor of fast fashion has no intention of slowing its roll.
There was a lot of good news highlighted Wednesday in The H&M Group’s annual report for fiscal 2015. Sales including VAT increased 19 percent in the 12 months ended Nov. 30 to 209.9 billion Swedish kronor (roughly $28.5 billion) and operating profit was 26.9 billion Swedish kroner ($3.3 billion)—its highest result to date, despite a strong U.S. dollar which made purchasing considerably more expensive.
CEO Karl-Johan Persson said that sales “developed well” across all of the group’s brands, including H&M, H&M Home, Cos, & Other Stories, Monki, Weekday and Cheap Monday, helped in part by the 413 new stores that opened throughout the year, mostly in China (83) and the U.S. (59).
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