H&M’s online business helped increased sales for the fashion brand by 15 percent last month. The result surpassed market expectations by 2 percent and drove the company’s shares price up by 2.1 percent. The company also posted SEK 40.3bn in sales in the first quarter of the fiscal year, beginning in December, marking an impressive 25-percent jump. Company representatives said that the Swiss kronor’s weakening against the US dollar also helped improve H&M’s financial performance.
As it continues developing its online business, H&M is introducing new brands, including sports and upper-shelf clothings. The company plans to add 400 new stores to its chain by the end of the year. As of February, the company operates 3,500 locations, up from 3,192 in the same period last year.
