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Hennes and Mauritz going well in Croatia Hennes and Mauritz going well in Croatia

H&M sales in Croatia show stronger growth results than China, US and Germany

Written by  Jan 31, 2017

The Swedish multinational clothing retail chain and the second largest global clothing retailer Hennes and Mauritz (H&M) has released data on their financial results for 2015/2016. The H&M company generated a revenue of 1,972 billion Euros at the group level.

However, the company has explained the decline in profits by higher procurement costs due to a stronger dollar and increased discounts after a cold spring in Europe.

Despite the situation on the world markets, there is some good news from Croatia. Even though H&M recorded sales declines on the markets of France, Germany, Switzerland, Italy as well as the US and China, the Croatian market showed much better results. Only in Croatia, H&M achieved sales revenue in amount of 670 million Kunas or 4 percent more in comparison to the previous financial year.

These results only indicate the great popularity of the H&M retail chain among Croatian citizens since the opening of its first store in Zagreb in 2011.

The Voice of Dubrovnik

THE VOICE OF DUBROVNIK


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