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H&M sales up for first nine months

25
Sep '09
Hennes & Mauritz AB released nine-month report.

• Sales excluding VAT for the H&M Group for the first nine months of the financial year amounted to SEK 73,382 m (62,222), an increase of 18 percent. In local currencies, the increase was 5 percent.
• Profit after financial items for the first nine months amounted to SEK 14,111 m (14,076). Group profit after tax amounted to SEK 10,230 m (10,205), corresponding to SEK 12.36 (12.33) per share.
• Sales excluding VAT for the third quarter amounted to SEK 23,545 m (20,871), an increase of 13 percent. In local currencies, the increase was 3 percent.
• The gross profit for the third quarter amounted to SEK 14,514 m (12,700), an increase of 14 percent. The gross margin amounted to 61.6 percent (60.8).
• Profit after financial items for the third quarter amounted to SEK 4,773 m (4,586), an increase of 4 percent. Group profit after tax amounted to SEK 3,460 m (3,325).
• Sales in August decreased by 3 percent in local currencies.
• Increased expansion target for the full year from 225 to approximately 240 stores net.
• Online sales to be launched in the United Kingdom with planned start in autumn 2010.

Sales
Sales excluding VAT for the H&M Group during the first nine months of the financial year amounted to SEK 73,382 m (62,222), an increase of 18 percent. Sales including VAT amounted to SEK 85,939 m (73,193). In local currencies the increase was 5 percent. In comparable units, sales decreased by 4 percent.

Sales excluding VAT in the third quarter amounted to SEK 23,545 m (20,871), an increase of 13 percent. Sales including VAT were SEK 27,587 m (24,540). In local currencies, sales increased by 3 percent and decreased by 6 percent in comparable units.

In August 2009, sales including VAT in local currencies decreased by 3 percent compared to the same month of the previous year. Sales in comparable units decreased by 11 percent.

The Group opened 116 (85) stores and closed 14 (9) stores during the nine-month period. The total number of stores in the Group as per 31 August 2009 thus amounted to 1,840 (1,618), of which 31 are franchise stores.

Hennes & Mauritz


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