STOCKHOLM--Hennes & Mauritz AB on Thursday said it plans to expand its range of retail outlets by opening more sports-clothing and home-furnishing shops as well as online fashion stores this year after reporting a 6.1% rise in fourth-quarter net profit.

H&M, the world's second biggest clothes retailer by sales, after Zara-owner Inditex S.A. (ITX), said it plans to open more than one store every day this year/

The Stockholm-based retailer said net profit increased to 5.61 billion Swedish kronor ($868 million) in the three months to Nov. 30, from SEK5.29 billion a year earlier on a 12% rise in revenue to SEK36,495. Analysts had expected net profit of around SEK6.02 billion.

Quarterly revenue in comparable stores increased by 3% while the group's gross operating profit margin slipped to 60.8% of revenue from 61.6% because of unfavorable exchange rates in the period.

"Although there are still macroeconomic challenges in several of our markets, we are optimistic about 2014," Chief Executive Karl-Johan Persson said.

To meet the threat from budget retailers like Primark and Forever 21, H&M is working to broaden its offering, through the launch of new store concepts and product lines like H&M Sport and H&M Home.

In 2014, H&M said it would also launch online sales in France, and make a foray "an additional three large online markets." It plans also to open its first physical stores in the Philippines and Australia, as it continues its southward expansion. The first H&M store in the southern hemisphere opened in Santiago, Chile, last year.

Write to Jens Hansegard at jens.hansegard@wsj.com and Niclas Rolander at niclas.rolander@wsj.com

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