SWEDISH FAST-FASHION CHAIN H&M has capped 20 months of rising global sales only 4 days before the launch of its new flagship store in Dublin.
The budget clothing retailer, known for enlisting celebrities for its marketing campaigns, reported its sales were up 10% in November when compared to the same month last year.
Sales for H&M, an abbreviation of Hennes & Mauritz, were up 14% over a full year, outstripping the company’s rapid-fire growth in its number of outlets.
H&M reported sales for the three months from September to November were up 11% to about €4.5 billion for the period, excluding sales taxes.
It has 3,511 outlets open worldwide at the end of November compared to 3,132 for the same time in 2013 – an increase of about 12%.
The company already operates 14 stores in Ireland and will open the doors for its latest outlet, a new flagship store in the former National Irish Bank building on College Green, on Thursday.
H&M had been among many retail chains that complained of weaker-than-expected autumn sales because of unusually warm weather putting shoppers off stocking up on winter lines.
However the company has still delivered an increase in total sales every month since March 2013.
H&M has recruited celebrities from David Beckham to Beyoncé to front its campaigns, although it has been criticised for using computer-generated models to show off products on its website.
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