Useful to -15% for H & M

Thursday, January 26, 2012 low cost clothing giant Hennes & Mauritz (H & M) ended 2011 with net income down by 15.3 % to € 15.821 billion kronor. The turnover was increased in 1, 5% to € 128.8 billion crowns.

Revenues for the period October-December 2011 rose by 4% to 36.2 billion kronor. "The sales are considered satisfactory to the extent that consumption in some markets where there is H & M have been influenced by the weather, warmer than average season, and has been delayed by the crisis," the group said in a statement .

In the coming months the group aims to new countries, including Bulgaria, Latvia, Malaysia and Thailand and new openings in Mexico, Hong Kong, Italy, Finland and Kuwait over the opening of ecommerce in the U.S. this fall.