Its profit grew 14%, to RON66.8 million.
The company also hired more than 100 additional staff in 2019, to a total of 1,215 employees.
The Swedish retailer opened a new store in Romania in the 2019 financial year (December 1, 2018 – November 30, 2019). It has 57 brick-and-mortar stores in Romania, of which two under the COS brand and the rest under H&M.
Starting 2020, H&M increased its online presence with the brands H&M, COS, MOnki, Weekday, & Other Stories and ARKET.
The Romanian fashion market is highly competitive, with over 100 foreign and local brands competing for the EUR3.5 billion Romanians spend annually on clothing and footwear.