Give the Swedes credit - they know what people like when it comes to cheap chic. IKEA has stormed the world with popular (if quirky) flat-pack furniture, and now retailing giant Hennes & Mauritz (Nasdaq:HNNMY) is doing the same in the clothing world. Although H&M is still relatively unknown in the U.S., H&M operates around 2,000 stores around the world and is a major clothing retailer in much of Western Europe.
The Quarter that Was
H&M continues to post excellent growth as people gravitate toward the company's mix of attractive styling and prices. Total sales were up 14% in the third quarter, with comparable sales up about 11%. The company has opened about 105 new stores so far this year, even though it has mentioned that a slower pace of mall openings has curtailed their near-term store expansion goals somewhat.
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