H&M sales up 6% in Q1 FY'13

Sales in comparable units decreased by 3 percent. Sales in the quarter were negatively affected by calendar effects of just over 2 percentage points.

Sales in the first quarter converted into SEK increased by 2 percent and amounted to SEK 33,146 m (32,503) including VAT. Sales excluding VAT amounted to SEK 28,392 m (27,832).

The difference between the developments in local currencies versus SEK is explained by substantial negative currency translation effects as a result of the continued strengthening of the Swedish krona against most sales countries’ currencies.

The total number of stores amounted to 2,818 on 28 February 2013 versus 2,491 on 29 February 2012.

H&M