H&M Group has plenty to be cheerful about as the year comes to an end. In November, the Swedish fashion retailer’s sales excluding value-added tax rose 10 percent totaling 42.6 billion kronor, or about $5.64 billion. The results outpaced Bloomberg analysts’ expectations, which estimated sales to clock in at 42.4 billion kronor, or $5.5 billion.
Sales including value-added tax increased 11 percent to approximately $6.57 billion.
November was a busy month for H&M, which launched its much-talked about collaboration with Alexander Wang on Nov. 6, and rolled out a series of holiday promotions during the latter half of the month.
H&M is also reaping the benefits of 379 additional physical stores worldwide since Nov. 2013, as well as entry into major online markets, including China, France, Spain and Italy in the past year. H&M will announce fourth-quarter earnings on Jan. 28.