H&M sales benefit from warm August and weakening currency

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The H&M group’s sales including VAT increased by 1 percent in local currencies in August 2015 compared to the same month last year. H&M says sales in August were negatively affected by the unseasonably warm weather in many of the H&M group’s large markets in Europe.

In the third quarter of 2015, i.e. during the period 1 June to 31 August, sales including VAT increased by 11 percent in local currencies compared to the corresponding quarter last year. Sales including VAT in the third quarter converted into SEK increased by 18 percent to 53,420 MSEK (45,259). Sales excluding VAT amounted to 46,024 m (38,805), an increase of 19 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 3,675 on 31 August 2015 compared to 3,341 on 31 August 2014.