There’s no stopping fast-fashion purveyor H&M. The Swedish chain saw an increase in overall sales for the 22nd month in a row, reporting a 14 percent jump in January compared with the year-ago period. This growth was thanks in large part to an aggressive growth strategy that included the opening of 357 stores around the world in the year ended Jan. 31.
Coming off a financially successful 2014—which saw sales soar 14 percent over 2013 to roughly $2.4 billion—H&M announced last month that it would open a further 400 new stores this year, bringing its tally to nearly 4,000 locations worldwide.
According to a statement from CEO Karl-Johan Persson, the majority of these openings will be in the United States, its second-largest market, and China. Last year the company opened 58 stores in the U.S. alone.
“Well-received collections for all our brands and continued strong expansion both in stores and online have helped increase our market share,” Persson declared.