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H&M sales in Romania, up by 16 pc at end-May

By Anca Bernovici
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Swedish clothing retailer H&M sold clothes, shoes and accessories of SEK 962 million (EUR 103.6 million) on the local market in the first half of the financial year (December 1, 2015 – May 31, 2016), up by 16 percent compared to the same period of the previous year, a press release informs.

In national currency, H&M Romania reported a sales growth, including VAT, of 19 percent, according to the financial report of the group.

This month, H&M opened a new store in Craiova, the second in the city and the 46th nationally. As of this year, the retailer has opened stores in Romania in Satu Mare, Focsani, Timisoara.

In May, the Swedish group opened its first store on the local market under the premium brand COS, which is located on Calea Victoriei in Bucharest.

The H&M group’s sales including VAT increased by 7 percent in local currencies during the first six months of the financial year. Converted into SEK, sales including VAT increased by 5 percent to SEK 104,965 million (100,024). Sales excluding VAT amounted to SEK 90,565 million (86,143).

Profit after financial items amounted to SEK 10,329 million (13,158). The group’s profit after tax amounted to SEK 7,902 million (10,066), corresponding to SEK 4.77 (6.08) per share.

The H&M group plans a net addition of around 425 new stores for the 2015/2016 financial year.

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Anca Bernovici

Anca Bernovici

I started my way in life with the intention to pursue a teaching career. But, after graduating from the Faculty of Letters – the University of Bucharest in 2004, my first job as a reporter at one of the leading newspapers in Romania changed my perspective. I have specialized in communication and communication campaigns, following the Master's courses at the Faculty of Journalism and Communication Studies (FJSC), attending a BBC Communications scholarship.
I’ve represented several important publications in Romania as business journalist, being accredited in the finance and banking field. In 2015, I had the opportunity to interview the International Monetary Fund (IMF) Mission Chief for Romania, Andrea Schaechter. As business journalist, I also had the opportunity to interview ministers for Economics and Commercial
Affairs offices within different embassies in Romania or officials of large companies investing on the domestic market.
After almost 15 years of journalism, I still want to explore new ways, to inform and stay updated. That’s why The Romania Journal project fits me so well.
Today I describe myself as a passionate about the history of world culture, having a PhD in Hebrew Culture and Civilization, after a scholarship at the University of Haifa International School, as a language addict, an environmental activist, pet lover and traveler.

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