H&M clocks 10% rise in Q2 FY'12 sales

17 Sep '12

2 min read

In August 2012, Hennes & Mauritz Group (H&M) total sales including VAT in local currencies increased by 6 percent compared to the same month the previous year. Sales in comparable units depressed by 4 percent. Comparable units comprise the stores and the online sales countries that have been in operation for at least a financial year. It was primarily the extreme heat wave in a number of European markets in August that affected sales negatively.

In the third quarter of 2012, i.e. during period 1 June to 31 August, sales including VAT increased by 10 percent in local currencies compared to the corresponding quarter last year. Sales in comparable units were unchanged.

The strong appreciation of the Swedish krona primarily against the euro during the third quarter has resulted in large negative currency translation effects.

During the third quarter the strong appreciation of the Swedish krona primarily against the euro has led to large negative currency translation effects.

Sales including VAT in the third quarter converted into SEK amounted to SEK 33,568 m (31,511). Sales excluding VAT amounted to SEK 28,806 m (26,912), an increase of 7 percent.

The total number of stores amounted to 2,629 on 31 August 2012 versus 2,325 on 31 August 2011.

The sales figures for the third quarter have not yet been reviewed by the company’s auditors. This will be done in conjunction with the Nine-month report which will be published on 27 September 2012 at 8.00 (CET).

Percentage sales development for the month of September will be published on 15 October 2012.

H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company’s business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home.

Hennes & Mauritz Group (H&M)

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