If you are a fan of Cos and & Other Stories, otherwise known as H&M's chicer offshoots, we have good news: You'll be seeing more of them in the near future.
According to the company's first quarter financial report, the two will be expanding in 2015 more than they did in 2014 — meaning more than 26 openings for Cos and 12 for & Other Stories — and primarily in existing markets, though Cos does plan to open the doors of its first locations in Luxembourg and Prague by fall. Given how popular the brands' first New York shops have proven to be since they opened for business last fall, we've got our fingers crossed for further U.S. openings.
American shoppers can also bank on getting a crapload more H&M stores in the near future. The fast fashion giant is opening another 400 locations in 2015, adding to the fast fashion giant's already massive global network of nearly 3,300 locations. (Competitor Zara, meanwhile, is reining in the expansion of its store network.) Most of those openings are set to take place in the U.S. and China, although Taiwan, Peru, Macau, South Africa and India will get their first H&M stores this year, too.
Customers, for their part, seem to be responding well to H&M's current strategy. Led by Germany, the U.S. and the UK, the company's overall sales grew 25 percent in the first quarter, which wrapped up Feb. 28, and profit rose 35 percent to roughly $550 million. Despite higher IT costs during the quarter, cost control and strong sales gave H&M a boost.
So why slow down now?