Swedish multinational apparel company H&M has recorded growth in its market sales by at least 21% for the month ending 30 November 2013.
The steep growth, as seen by H&M, is mainly a result of favourable weather and calendar effects, which could be up to 3% of the total growth. It has to be mentioned here that the period includes the much hyped collaboration with Isabel Marant and Black Friday.
In a recent note released to the press, head of the investor relations at H&M said that the cold weather triggered people to drop in at their stores and purchase long coats, sweaters and other similar items, even at high prices.
The report released focused on the sales and profits made between 1 September and 30 November. The company officials have said that H&M posted profits in the beginning of October itself, which was around 11%.
And the sales continued to shoot up, they added.
The company mentioned that the total profits made in the fourth quarter touched a record mark of kr42.59bn, which was reportedly higher than the previous fiscal.
H&M had 3,132 stores on 30 November 2013, compared to 2,776 stores in November 2012.