Fast-fashion behemoth H&M experienced its fifth-straight month of double-digital growth in February, reporting a 15 percent surge in sales compared with the same period last year, and beating analysts’ forecasts of 13 percent.
The Swedish chain, the world’s second-biggest fashion retailer, also reported sales in its fiscal first quarter, Dec. 1-Feb. 28, climbed 15 percent. First-quarter sales converted into Swedish krona (SEK) increased 25 percent and amounted to SEK 40.3 billion (or $4.67 billion) excluding sales tax, against a forecast of SEK 39.2 billion (or $4.54 billion).
Typically, H&M’s sales grow in proportion to the number of stores it opens. As of Feb. 28, the retailer had 3,551 stores in operation, versus 3,192 the year before. In addition, the company is investing heavily in e-commerce and plans to sell online in nine more European countries by the end of the year.
H&M is due to report full quarterly results Mar. 24.