H&M sales surge 9% in May, 5% in quarter

By Yomna Yasser On Jun 15, 2016

Swedish fashion retailer Hennes & Mauritz (HM-B.SK) announced Wednesday that sales increased 9% in local currencies in May, with sales adjusted for calendar effects increasing by 11%.

In May 2015, sales increased by 10%.

In the company’s second quarter, spanning March 1 to May 31, sales excluding value-added tax and translated into Swedish kronor rose to SEK46.87 billion ($5.64 billion), from SEK45.87 billion last year.

Including VAT, sales in the second quarter rose 2% to SEK54.34 billion from SEK53.23 billion. In local currencies, sales in the second quarter including VAT, rose 5%.

H&M had 4,077 stores worldwide in May 31, up from 3,639 on the same date last year.

Full earnings figures for the first quarter will be published on June 22.

Source: MarketWatch