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February 04, 2008
H&M Posts Double-Digit Growth In Fourth Quarter
While economic worries have taken a toll on middle market retailers, fast fashion chain Hennes & Mauritz seems to be having no trouble driving sales.
The Swedish company’s fourth-quarter profits grew 14% to $950 million while sales increased by 17% to $3.48 billion. For the full-year ended Nov. 30, profit increased 21% to $2.83 billion.
H&M said that it benefitted from strong sales in Eastern Europe and China.
Posted by Blacks on February 4, 2008 09:37 AM
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