The profit after financial items was SEK 6.967 billion for the third quarter, the company split financial year. The corresponding period in 2013, the company made a profit of 5.83 billion kronor.
Analysts had on average expected a profit of 7.032 billion kronor, according to Reuters.
H & M opened a online store in China in September, which has received a “very good start,” according to a press release. The same is said about online sales in Italy and Spain, which was launched in August.
CEO Karl-Johan Persson says that sales have increased by 21 percent, which he thinks is a proof that H & M’s collections are taken well received. He also points to the roll-out of e-commerce in more markets.
“We have been very well received by our customers in all countries. We see our online store as an essential complement to our physical stores because the online store will enable us to improve service and accessibility for our customers, “said Persson.
clothing giant had planned to open its first store in India Now in the autumn, but it is pushed now until 2015 the same time telling the company that it is planning stores in South Africa, Peru, Taiwan and Macau next year.
This year, plans H & M to open the corresponding one new store per day, and the next year includes 8 to 10 new online markets.
The sale September 1 to 23 increased by 7 percent, measured in local currencies compared to the same month last year. “September sales have so far been affected by the unusually warm weather in most markets,” writes H & M.
sales for the quarter amounted to 38.805 billion kronor, compared with 32.04 billion kronor a year earlier. Gross margin fell to 58.3 percent, from 58.8 percent in the corresponding period last year.
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