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Tuesday 28.03.2017 | Name days: Ginta, Gunda, Gunta
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H&M profit for previous financial year grow by one-third in Latvia

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUSwedish clothes retailer Hennes and Mauritz’s subsidiary in Latvia H&M managed to increase its profit considerably in last year’s financial year.

The company’s turnover was EUR 22.39 million in that financial period, which is nearly two times more than in the previous period, when turnover was EUR 12.46 million. The company’s profit was EUR 984,483, which is 33.33% more than the year before, when the company earned EUR 738,376, according to information from Firmas.lv.

It is mentioned in the management’s report that H&M opened three stores in Latvia last year. H&M plans to continue developing its presence in Latvia. The company does not exclude the possibility of expanding its network in the future. It is also planned to continue working with profit.

As it is known, the first H&M stores opened their doors in Latvia in 2012. The third store, located in Mols shopping centre, opened its doors in October 2013. The fourth H&M store opened in Riga at the end of March 2014. It is located in Spice shopping centre. The fifth store was opened in the second half of April in Riga Plaza and the sixth one was opened in November 2014.

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