H&M announced record sales growth in July 2014: the company's turnover grew 17% from a year earlier. This turned out to be higher than the most optimistic forecasts of analysts, foreshadowing the company an increase of 11%, as well as above the previous record set in June (+ 12%). Total brand sales have been growing at double digits for ten consecutive months.
According to the official release, the number of H&M stores in the world at the end of July reached 3, which is 314% more than a year earlier (12,7). The company, which is the second largest fashion retailer in the world after the Spanish group Inditex, plans to strengthen its online presence, namely the opening of 2-940 local online stores by the end of 8, with Spain, Italy and China topping the list.