H&M June sales up 7%

H&M June sales up 7%

H&M June sales up 7%

The FINANCIAL -- The H&M group’s sales including VAT increased by 7 percent in local currencies in June 2017 compared to the same month the previous year.

Converted into SEK sales increased by 10 percent.

The total number of stores in the group amounted to 4,517 on 30 June 2017 compared to 4,095 stores on 30 June 2016, according to the H&M group.

The H&M group has decided to arrange Capital Markets Days during which more in-depth information about the business will be given and has also decided – in consultation with its large institutional shareholders – to publish the group’s sales development per quarter instead of per month. Just as previously, sales for the quarter will be published ahead of each interim report as the percentage change in local currencies and in Swedish kronor as well as in absolute figures in Swedish kronor, both including and excluding VAT. 

The reasoning is that a month is far too short a period over which to assess how sales are developing; in fact, a single month’s sales can actually be misleading, since calendar and weather effects – among other things – may significantly affect the outcome. Instead sales development should be viewed over a longer period of time, such as over a season or a quarter. This is also the reason why the majority of companies in fashion retail currently report their sales quarterly rather than monthly.