image credit: Unsplash

Low-cost fashion brand H&M sees full-year sales up by 11%

January 30, 2020

Via: ABC News

COPENHAGEN, Denmark — Swedish low-cost fashion brand Hennes & Mauritz AB says its net sales have increased by 11% to 232.7 billion kronor ($24.2 billion) last year “in an ever-changing fashion industry.”

The Stockholm-based group says its full year gross profit increased by 9% to 33.3 million kronor ($3.5 million).

The growth in sales was driven by both in-store and online sales, with a strong increase in online sales of 24% in kronor while sales in the fourth quarter “was good in many markets,” the group said.

Read More on ABC News