Fashion retailer H&M makes lower profit in Romania

Swedish fashion retailer Hennes&Mauritz (H&M) reached EUR 150 million sales in Romania last year, posting a 25% increase compared to 2014. However, the company’s net profit went down by 73%, to EUR 3 million, according to the financial data published by the Finance Ministry. H&M entered the Romanian market in 2011 and has opened 44 stores in five years becoming one of the top fashion retailers. Last year, H&M also launched online sales in Romania and this year the Swedish group opened its first local store under its premium brand COS. H&M’s biggest local competitor is Spanish group Inditex, owner of the Zara brand. editor@romania-insider.com