H&M continues to report two-digit sales increases. And a weaker Swedish currency almost doubles the great numbers.
The H&M Group’s sales including VAT increased by 10 percent in local currencies in May 2015 compared to the same month the previous year. Sales in May have been negatively affected by calendar effects of approximately 3 percentage points.
In the second quarter of 2015, 1 March to 31 May, sales including VAT increased by 10 percent in local currencies. Sales in the quarter were negatively affected by calendar effects of approximately 2 percentage points.
Sales including VAT in the second quarter converted into SEK increased by 20 percent and amounted to SEK 53,233* m (44,181). Sales excluding VAT amounted to SEK 45,867* m (37,827), an increase of 21 percent.
The substantial difference between the sales increase in local currencies and in SEK is due to the weakness of the Swedish krona against most sales currencies in the group.
The total number of stores amounted to 3,639 on 31 May 2015 versus 3,285 on 31 May 2014.