Global General

Swedish H&M sales surge in July

(Xinhua)
Updated: 2010-08-16 17:43
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STOCKHOLM -- Swedish fashion company Hennes & Mauritz(H&M) said that sales in July rose sharply 21 percent, compared with seven percent in the same period last year, according to a statement released by the company on Monday.

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Sales in July is just one percentage point more than that of 20 percent in June this year, but 17 percentage point more than that in May which was just four percent.

Analysts hold that the Swedish fashion chain is benefiting from the improving global economy. Meanwhile, its clean design and low prices also attract more customers especially in summer.

The Swedish fashion retailer, the world's third largest by turnover, revealed that the number of stores has reached 2,066 by the end of July this year, compared with that of 1,828 in July 2009.