Belfast Telegraph

Fashion giant H&M sees UK retail sales figures jump by 16%

By Roger Baird

H&M has boosted annual profits after opening more than one new store a day last year.

The Stockholm-based group plans to step up its expansion by adding 400 shops, having opened 379 sites last year in countries such as China and the United States.

The firm, which employs 132,000 staff across 3,511 stores in 55 markets, posted a 17% rise in net profits to 19.98bn Swedish kronor (£1.6bn) in the year to November 30 as it broadens its ranges and launched new online services.

It launched an H&M Sport range last year and opened online stores in four of its largest markets - France, Italy, Spain and China.

In the UK, sales jumped 16% in sterling terms at its 253 stores, helped by eight new shops.

Belfast Telegraph