It was reported that November sales beat analysts’ estimates after favorable weather, calendar effects, and a line designed by Isabel Marant – boosted revenue at Europe’s second-biggest clothing retailer.
Revenue at stores and operations open at least a year rose 10 percent compared with a year earlier, the Stockholm-based company said in a statement today.
The retailer, which started selling clothes designed by French fashion house Isabel Marant in around 250 stores and online Nov. 14, said total sales advanced 21 percent last month, compared with a estimated 14 percent increase.
H&M said sales, excluding value-added tax, were $5.6 billion in the three months ended Nov. 30. The company had 3,132 stores at the end of November, up from 2,776 a year ago. Its shares have gained 24 percent so far this year.