H&M first-quarter sales rise 8%

H&M first-quarter sales rise 8%

H&M first-quarter sales rise 8%

The FINANCIAL -- February 2017

The H&M group’s sales including VAT increased by 3 percent in local currencies adjusted for negative calendar effects in the month of February 2017 compared to the same month last year. The negative calendar effect amounted to approximately 4 percentage points since February 2017 had one day less than February 2016, which was a leap year.

First quarter 2017

In the first quarter of 2017, i.e. during the period 1 December 2016 to 28 February 2017, the H&M group’s sales including VAT amounted to SEK 54,369 m (50,624), an increase of 7 percent. Sales excluding VAT amounted to SEK 46,985 m (43,691), an increase of 8 percent. In local currencies, sales including VAT increased by 4 percent.

The total number of stores in the group amounted to 4,393 on 28 February 2017 compared to 3,970 on 29 February 2016, according to the H&M group.