H&M Will Again Open More Than One Store Per Day This Year

And don't worry, the retailer says it has years of physical store growth left.
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Eliza Brooke
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And don't worry, the retailer says it has years of physical store growth left.
An H&M store in Vienna. Photo: Mathias Kniepeiss/Getty Images

An H&M store in Vienna. Photo: Mathias Kniepeiss/Getty Images

As of November 30, when H&M's fiscal year ended, the Swedish fast fashion retailer had 3,924 stores in operation in 61 countries, employing more than 148,000 people. In its two largest markets, Germany and the United States, it had 449 and 415 locations up and running, respectively. That's a lot. But when asked by investors on a Thursday morning webcast whether H&M's brick-and-mortar spread will level off in the near term, maybe give way to an e-commerce push, brand execs confidently maintained that they see potential to expand the store fleet for "many years." They're aiming for 10 to 15 percent store growth annually.

H&M's flagship brand plans to add another 425 new stores in the new year and enter New Zealand, Cyprus and Puerto Rico for the first time. As for its other labels — Cos, Monki, Weekday, & Other Stories and Cheap Monday — the company will be focusing the main part of its attention on developing Cos's footprint, which stands at only 153 locations this year. (That's up from 114 at the end of 2014.)

How has all this translated into sales growth? Overall, revenue grew by 19 percent over the course of the year, to 209 billion Swedish krona (about $25 billion). Though September and October were strong, November's sales figures suffered due to that pesky warm weather in Europe and North America. Thank god for the blockbuster success of Balmain x H&M, which dropped early that month.

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