Its store count increased by 155 to 1,346 on January 31, compared with last year.
H&M operates in 24 countries and employs more than 60,000 staff. Turnover in 2006 was Skr80.08 billion (£5.85 billion).
Madonna is soon to launch a fashion line for the high street giant called M by Madonna. The collection, described as 'reflecting Madonna's timeless, unique and always glamorous style' by the retailer, goes on sale in stores next month.
The singer said: 'I've made no secret of my love of fashion. Working with H&M was an exciting and new creative challenge. I'm happy with the results and look forward to wearing M by Madonna along with the rest of the world.'
The collaboration began last spring when H&M supplied a complete range of stage clothing for Madonna's world tour.