Hennes & Mauritz AB (H&M), Swedish fashion retailer, published on the 31st of December its full year report for the financial year 2016-2017, starting from the 1st of December 2016 and ending on the 30th of November 2017.
The H&M Group continued to grow globally in 2017, recording sales of approximately 23.5 billion EUR (231,771 million SEK), which is a 4 percent increase compared to the previous year.
In the fourth quarter (1st of September 2017 - 30 November 2017), the Group’s sales including VAT amounted to approximately 5.8 billion EUR (58,454 million SEK). Sales excluding VAT recorded a decrease of 4 percent compared to the corresponding quarter of last year.
During the year, H&M entered eight new online markets and expanded its standalone retail network to five new countries. A total of 479 new stores were opened and 91 units closed, resulting in a total new addition of 388 stores. At the end of the financial year, H&M had 69 sales markets, of which 49 were online.
In 2018, the Swedish powerhouse aims to open approximately 390 new stores and will also launch a new brand, Afound. According to its press release, Afound will be an off-price market place offering products from well-known and popular fashion and lifestyle brands, both external brands and those from the H&M group. It will be launched in Sweden, with its first store in Stockholm opening in parallel with a digital marketplace in Sweden.
Also in 2018, H&M and H&M Home will open on Tmall, the world’s largest e-commerce platform.
H&M was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer affordable and sustainable fashion. In addition to H&M, the group includes the brands COS, Monki, Weekday, Cheap Monday, & Other Stories, H&M Home and ARKET.
The H&M group has 44 online markets and more than 4,700 stores in 69 markets including franchise markets. In 2017, sales including VAT were SEK 232 billion. The number of employees amounts to more than 171,000.