Swedish group H&M, the biggest fashion retailer in Romania by sales, continued to record robust growth on the local market in 2018, despite a reduced expansion pace.

The group recorded net sales of SEK 2.3 billion (EUR 223 million) in Romania, in the financial year ended on November 30, 2018, according to its annual report. The growth rate versus the previous year was 16% in SEK and 12% in local currency (RON), according to the same document. In the reported period, H&M opened just one new store in Romania and closed one of its existing stores on the local market. The number of units thus remained unchanged at 56.

The growth rate recorded in Romania was similar to the ones H&M had on other markets in the region. In Poland, net sales went up by 20% (in SEK) in 2018, to SEK 5.28 billion (EUR 512 million), but with 12 new openings and a network of 186 stores at the end of the year. In Czech Republic, sales also went up by 20% and in Hungary – by 17%.

Overall, the group recorded a turnover of SEK 210 billion (EUR 20.4 billion) in the years ended on November 30, 2018, up 5% over the previous one. Its network reached almost 5,000 stores worldwide.

editor@romania-insider.com

(Photo source: the company)