H&M REPORTS 10% SALES INCREASE IN DECEMBER
Hennes & Mauritz AB (H&M) group’s sales increased by 10 percent in local currencies in December 2015 compared to the same month last year. The company also noted its store count came to 3,957 on December 31 versus 3,537 on the same date in 2014. Last month, the company opened 117 new stores.
For its financial year ended November 30, the Swedish fast-fashion giant posted an 11 percent gain in sales in local currencies and including VAT. Converted into Swedish kronor, sales including VAT gained 19 percent.
H&M provided only a percentage figure, and no longer breaks out same-store sales data. Total sales include value-added taxes, or VAT.
H&M is scheduled to release its full results for the financial year, including profits, on January 28.