H&M: Fashion store’s sales grow in Spain by 2 per cent

GROWTH: Sales rose by 2 per cent CREDIT: Shutterstock

SWEDISH fashion store chain H&M saw its sales in Spain grow by 2 per cent between December 2017 and November 2018 to €710 million, the company has said.

The results come as the company recorded a total net profit of more than €1.2 billion during the same period, 22 per cent less than the year before.

H&M’s chief executive Karl-Johan Persson said the fall came on the back of a “demanding” year for the company but added it was on the right track.

It comes as H&M has been trying to improve logistics in a bid to cut costs and boost profits, the results of which are beginning to bear fruit, Persson added. The firm currently has 172 stores in Spain.

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Joe Gerrard

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