One of the largest European clothing chains H&M is entering two new markets in the Balkans. The company announced that its sales in physical stores in the third quarter recovered from the pandemic collapse and grew by 14% to a total of 6.3 billion dollars. Online sales are increasing even more – by 22%.
The chain’s profit after taxes is 536 million dollars, which is twice as much as in the same period last year. The increase in sales in the stores reflects the relaxation of the market during the period. However, at the beginning of June, about 180 stores were closed, and by the time of August, about 100 stores had not yet opened.
Apart from the Balkans, H&M announced the entry of more Rica and Cambodia.
H&M currently has 53 online markets worldwide and approximately 4,850 physical stores in 75 markets including franchises. The company has a little over 150 thousand employees.
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