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Q3FY18 sales at H&M grow 9% to SEK 64,800 million

18
Sep '18
Courtesy: H&M
Courtesy: H&M
The sales of H&M in the third quarter of fiscal 2018 has amounted to SEK 64,800 million an increase of 9 per cent compared to the sales of SEK 59,383 million in the same quarter previous year. The company's sales excluding VAT has totaled to SEK 55,821 million as against SEK 51,229 in the last year. In local currencies, sales including VAT rose 4 per cent.

The H&M group’s continuous transition, to face the major shift within the industry, has contributed to a gradually improved sales development and increased market share in many markets in the third quarter, Karl-Johan Persson, CEO, said.

However, sales and cost development in some of the group’s important markets such as the US, France, Italy and Belgium were in the third quarter considerably affected by the issues that emerged during the implementation of new logistics systems in the spring. The new logistics systems enable a faster and more efficient supply chain as well as a continued integration of store and online.

The nine month report of H&M for fiscal 2018 will be published on September 27, 2018. (RR)

Fibre2Fashion News Desk – India


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