RETAIL: H&M Croatia 2013 Revenues Reach €36.9 Million

The Swedish clothing retailer H&M Croatia’s revenues in Q1/Q2 2013 reached €36.9 million. The company achieved a growth of 28% compared to the same period in 2012.

According to H&M’s semi-annual report (1 December 2012 – 31 May 2013), sales revenue grew by 5 % in local currencies, but in the Swedish krona (the currency in which H&M submits its financial reports) the recorded growth was 1%.

The company generated revenue of €8.16 billion; however, it also recorded a decline in profits by 11 % due to adverse macroeconomic conditions of the countries where H&M has its retail stores, as well as harsh weather conditions, which affected sales in March and April. In spite of unfavourable business results, the company proclaimed that they will increase the number of its stores by 10 to 15% in 2013. Most of them will be opened in China and the U.S…

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