H&M Group's May sales climb 12 per cent
A good month for the Swedish clothing retailer.
The Swedish clothing retailer H&M Group has reported a 12 per cent rise in total sales (including VAT in local currencies) in May compared to the same month last year.
Sales in comparable units – which comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year – increased by 3 per cent.
Meanwhile, for the second quarter ended 31 May, sales including VAT increased by 12 per cent in local currencies, while sales in comparable units climbed 2 per cent.
Sales including VAT in the second quarter converted into SEK amounted to SEK36.94bn, an increase of 14 per cent. Sales excluding VAT amounted to SEK31.66bn, an increase of 15 per cent.
H&M’s has a total of 2,575 stores; it had 2,297 last year.