H&M’s sales rise more than expected

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The FINANCIAL — The H&M Group’s sales including VAT increased by 10 percent in local currencies in May 2015 compared to the same month the previous year. Sales in May have been negatively affected by calendar effects of approximately 3 percentage points.

In the second quarter of 2015, i.e. during period 1 March to 31 May, sales including VAT increased by 10 percent in local currencies. Sales in the quarter were negatively affected by calendar effects of approximately 2 percentage points. Sales including VAT in the second quarter converted into SEK increased by 20 percent and amounted to SEK 53,233 m (44,181). Sales excluding VAT amounted to SEK 45,867* m (37,827), an increase of 21 percent. The substantial difference between the sales increase in local currencies and in SEK is due to the weakness of the Swedish krona against most sales currencies in the group, according to H&M Group.

The total number of stores amounted to 3,639 on 31 May 2015 versus 3,285 on 31 May 2014.

Percentage sales development for the month of June will be published on 15 July 2015.

 

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