Seems that spring treated H&M well. The retailer announced Wednesday morning that sales rose 20 percent in the second quarter of 2014, growth it attributes to collections that resonated with customers. Overall, H&M and its sister brands — Cos, & Other Stories, Monki, Weekday, Cheap Monday and H&M Home — brought in a profit of $892.3 million.
And, with some luck, that product offering is only going to get better. CEO Karl-Johan Persson said in a statement that H&M is ramping up its shoe game for the fall, launching "an extending and improved shoe range for women, men, teenagers and children" in select stores in nine countries. Not a bad idea, considering that competitor Zara currently kicks H&M's butt when it comes to shoes, effectively riding trends with a wide selection of styles dotting the perimeter of its stores.
H&M is also prepping for growth into eight to 10 new online markets over the course of the next year, with plans to open e-commerce sites for Spain and Italy this fall and China following that. Which markets those will be remains to be seen — as does the sartorial slant of its forthcoming footwear range.
Homepage photo: Cosima Kaibel wears pants from Cheap Monday, top from Primark and shoes from H&M as she attends the Mercedes-Benz Fashion week spring and summer 2014 at the Brandenburg Gate on July 2, 2013 in Berlin, Germany. Photo: Timur Emek/Getty Images