The H&M group’s sales in SEK excluding VAT increased by 21 percent to 45,867 million (37,827) during the second quarter ending 31 May.
In local currencies the increase was 10 percent.
”We’ve had one of our our strongest openings ever when it comes to sales,” comments CEO Karl-Johan Persson.
H&M is also off for a good start of Q3 since sales in the period 1 June – 23 June 2015 increased by 14 percent in local currencies compared to the same period last year. This according to today’s interim report.
”Looking specifically at the second quarter, i.e. March to May, sales development was again strong – particularly if we consider the more challenging conditions we faced such as strong comparables from last year, unusually cold spring weather in many of our important European markets and negative calendar effects,” says CEO Karl-Johan Persson.
Gross profit amounted to SEK 27,245 m (23,010), an increase of 18 percent. This corresponds to a gross margin of 59.4 percent (60.8).
Profit after financial items amounted to SEK 8,435 m (7,643), an increase of 10 percent. The group’s profit after tax increased to SEK 6,453 m (5,809), corresponding to SEK 3.90 (3.51) per share, an increase of 11 percent.
H&M has opened its first store in Lima, Peru and in Macau, and has eight new online markets; Poland, Portugal, Romania, the Czech Republic, Bulgaria, Slovakia, Hungary and Belgium.
”In parallel with our online expansion, we are continuing to open stores at a fast pace. We are aiming to open approximately 400 new stores net this year. We have had many successful openings so far this year. The opening in Lima, Peru, is one of our strongest ever when it comes to sales”
In total, H&M will expand its retail stores into five new markets in 2015, Taiwan, Peru, Macau, South Africa and India.
Starting from July 2015, H&M Beauty will gradually be launched in 900 H&M stores in 40 markets as well as online.
”H&M Beauty is one example of all the investments we are making in order to broaden H&M’s product range even further,” says Karl-Johan Persson.