The distance between Inditex and H & M increases in the bag with the presentation of the accounts for the last quarter of 2012 by the Swedish company. H & M had a net profit of 5.287 million kronor (613 million euros), which is 1% less than the previous year in the same period. In Spain its profit fell by 5.7% compared with 7% in the benefit of its last fiscal year of its business worldwide compared to 2011.
The data presented by H & M are lower than expected by analysts and that makes its value in the Swedish stock exchange falls below the 340,000 million SEK (less than 40,000 million euros), against Inditex has a market capitalization close to 65,000 million euros, notes Expansion .
The benefit of H & M in Spain fell by 5.7%
In Spain, H & M achieved a turnover of 1.450 billion kronor (168 million euros), down 5.7% in the fourth quarter of 2012 compared to 2011. H & M sales earned 5.807 million kronor (675 million euros) in Spain during 2012, up 0.4% compared to 2011.
H & M had 146 stores in Spain to 30 November 2012, 14 more than in 2011 (opened 16 new and closed two).
H & M does grow abroad
H & M grows low in Spain and abroad, as so many textile companies. The benefit of its last fiscal year (which runs from December 1, 2011 to November 30, 2012) is SEK 16.867 million (1,956 million), up 7% on 2011.
The worldwide net sales reached SEK 120,799,000 (14,005,000 euros), 10%.
H & M will arrive in Chile, its first store in South America
H & M opened 339 new stores and closed 35 in 2012, focusing on markets in the United States and China. Looking to 2013 H & M plans to open 325 new stores worldwide, year that come to new countries such as Serbia, Lithuania, Estonia, Indonesia and Chile, which will be the first store of the Swedish chain in South America, expected to first half of 2013.
Overall, the staff of H & M worldwide over 100,000 workers, with 10,000 new jobs in 2012.
Among the investments the firm notes that have slowed accounts is launching its new brand & Other Stories, improving their internet sales and expanded its product range. Long-term investments that will generate income later.
Official site | H & M
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