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Outlook for future expansion remains positive at H&M
28
Jan '10
The HENNES & MAURITZ (H&M) Group's sales excluding VAT for the financial year amounted to SEK 101,393 m (88,532), an increase of 15 percent. In local currencies, the increase was 4 percent.

• Profit after financial items for the financial year was SEK 22,103 m (21,190). Group profit after tax was SEK 16,384 m (15,294), corresponding to SEK 19.80 (18.48) per share, an increase of 7 percent.

• Sales excluding VAT for the fourth quarter amounted to SEK 28,011 m (26,310), an increase of 6 percent. In local currencies, sales increased by 3 percent.

• Gross profit for the fourth quarter amounted to SEK 18,581 m (16,416), an increase of 13 percent. The gross margin amounted to 66.3 percent (62.4).

• Profit after financial items for the fourth quarter amounted to SEK 7,992 m (7,114), an increase of 12 percent. Group profit after tax was SEK 6,154 m (5,089).

• Successful establishment in Russia during 2009.

• H&M plans for a net contribution of around 240 stores for the financial year 2009/2010.

• The Board of Directors proposes a dividend of SEK 16.00 (15.50) per share.

• Sales in December 2009 increased by 15 percent in local currencies compared to the same month previous year.

• Sales during the period 1 - 26 January 2010 increased by 13 percent in local currencies compared to the same period last year.

Sales

Sales excluding VAT for the H&M Group for the financial year amounted to SEK 101,393 m (88,532), an increase of 15 percent. Sales including VAT amounted to SEK 118,697 m (104,041), an increase of 14 percent. In local currencies the increase was 4 percent. In comparable units, sales decreased by 5 percent.

Sales excluding VAT in the fourth quarter amounted to SEK 28,011 m (26,310), an increase of 6 percent. Sales including VAT were SEK 32,758 m (30,848), an increase of 6 percent. In local currencies sales increased by 3 percent and in comparable units sales decreased by 6 percent.

The Group opened 275 (234) stores and closed 25 (18) stores during the financial year, a net contribution of 250 stores. In the fourth quarter 159 (129) stores were opened and 11 (9) were closed. The total number of stores in the Group as per 30 November 2009 thus amounted to 1,988 (1,738), of which 36 are franchise stores, 23 COS stores and 46 stores within the FaBric Scandinavien group.

Hennes and Mauritz Group

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