June 29 (SeeNews) - Sales of Hennes & Mauritz (H&M) in Bulgaria dropped by an annual 21% to 232 million Swedish crowns ($25 million/22.2 million euro) in the first half of its fiscal year 2020, started December 1, 2019, the Swedish fashion retailer said.
In local currency, H&M’s sales in Bulgaria decreased by an annual 22% in the December-May period, the company said in an interim financial statement published on Friday.
The company did not open or close any stores in Bulgaria during the review period. H&M operated 21 stores in Bulgaria at the end of May.
Sales in Bulgaria in the second quarter of the company's fiscal year 2020 plunged by an annual 46% to 85 million Swedish crowns, and were down 47% in local currency.
In Southeast Europe, H&M is also present in Serbia, Croatia, Romania, Bosnia and Herzegovina, Slovenia and Turkey.
(1 euro = 10.47 Swedish crowns)