Stockholm, Sweden (BBN) – The H&M group’s sales including VAT increased by 3 per cent in local currencies adjusted for negative calendar effects in the month of February 2017 compared to the same month last year.
The negative calendar effect amounted to approximately 4 percentage points since February 2017 had one day less than February 2016, which was a leap year, said a press release.
In the first quarter of 2017, i.e. during the period 1 December 2016 to 28 February 2017, the H&M group’s sales including VAT amounted to SEK 54,369 m (50,624), an increase of 7 per cent.
Sales excluding VAT amounted to SEK 46,985 m (43,691), an increase of 8 per cent.
In local currencies, sales including VAT increased by 4 per cent.
The total number of stores in the group amounted to 4,393 on 28 February 2017 compared to 3,970 on 29 February 2016.
The Three-Month Report, covering the period 1 December 2016 – 28 February 2017, will be published at 08.00 (CET) on 30 March 2017.
Per centage sales development for the month of March will be published in a press release at 08.00 (CET) on 18 April 2017.
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm.
H&M’s business idea is to offer fashion and quality at the best price in a sustainable way.
In addition to H&M, the group includes the brands & Other Stories, Cheap Monday, COS, Monki and Weekday as well as H&M Home.
The H&M group has approximately 4,400 stores in 64 markets including franchise markets.
In 2016, sales including VAT were SEK 223 billion.
The number of employees amounts to more than 161,000.