Despite a 10 percent growth in February, H&M reported sales under the analysts’ forecasts.
The H&M group’s sales including VAT increased by 10 percent in local currencies in February 2016 compared to the same month last year. Sales in February were positively affected by approximately 2 percentage points due to the leap day on 29 February 2016.
In the first quarter, 1 December 2015 to 29 February 2016, sales including VAT increased by 9 percent in local currencies compared to the corresponding quarter last year. Sales including VAT in the first quarter converted into SEK increased by 8 percent and amounted to 50,624 MSEK (46,791). Sales excluding VAT amounted to 43,691 MSEK (40,276).
The total number of stores amounted to 3,970 on 29 February 2016 compared to 3,551 on 28 February 2015.