Clothing retailer H&M continues upward trend in Romania: higher revenues and more stores

Swedish fashion retailer H&M’s sales in Romania increased by 38 percent year-on-year in the second quarter of the current fiscal year (period between March 1 and May 31, 2013), amounting to around EUR 25 million (SEK 222 million), according to the company’s latest report. Expressed in local currency (RON), the rise in sales was even higher - 44 percent. In this period, the fashion retailer opened three new stores in Romania. Between December 1, 2012 and May 31, 2013, the company’s sales in Romania amounted to some EUR 47 million (SEK 410 million), a year-on-year increase of 42 percent. The rate of sales growth put Romania at number two in the world for H&M, after Bulgaria - up 217 percent. In these first six months of the current fiscal year, H&M opened six new stores in Romania. The clothing retailer currently owns some 2,900 stores spread across 49 markets. In Romania, H&M opened its first store in 2011 and now has 25 stores across the country, covering the major cities. Irina Popescu, irina.popescu@romania-insider.com