SOFIA (Bulgaria), February 4 (SeeNews) - Sales of Hennes & Mauritz (H&M) in Bulgaria dropped by an annual 17% to 559 million Swedish crowns ($66.4 million/55.3 million euro) in its fiscal year ended on November 30, 2020, the Swedish fashion retailer said.
In local currency, H&M’s sales in Bulgaria also decreased by an annual 17% in the review period, the company said in an annual financial statement published last week.
Sales in Bulgaria in the fourth quarter of the company's fiscal year 2020 fell by an annual 13% to 173 million Swedish crowns, and were down 11% in local currency.
H&M operated 21 stores in Bulgaria at the end of November, same as a year earlier.
In Southeast Europe, H&M is also present in Serbia, Croatia, Romania, Bosnia and Herzegovina, Slovenia and Turkey.
(1 euro = 10.11 Swedish crowns)