H&M's sales up by 7% in Q1 2017.
M2 EQUITYBITES-March 15, 2017-H&M's sales up by 7% in Q1 2017
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Fashion retail company H & M Hennes & Mauritz AB (STO:HMB) reported on Wednesday that its sales including VAT increased by 3% in local currencies adjusted for negative calendar effects in the month of February 2017, as compared to the same month last year.
In the first quarter of 2017, during the period 1 December 2016 to 28 February 2017, the H&M group's sales including VAT amounted to SEK54,369m, up by 7% as compared with SEK50,624m in Q1 of the prior year.
Sales excluding VAT for the quarter amounted to SEK46,985m, up by 8% as compared with SEK43,691m in Q1 2016, In local currencies, sales including VAT, increased by 4%.
The total number of stores in the group amounted to 4,393 on 28 February 2017, as compared with 3,970 on 29 February 2016.
H & M's fashion brands include H&M, & Other Stories, Cheap Monday, COS, Monki and Weekday, as well as H&M Home.
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|Publication:||M2 EquityBites (EQB)|
|Article Type:||Financial report|
|Date:||Mar 15, 2017|
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