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Details on Industry Insight.
STOCKHOLM, Sweden--(BUSINESS WIRE)-- Regulatory News:
In May 2011, H&M group total sales including VAT increased by 12 percent compared to the same month previous year, calculated in local currencies. In comparable units sales increased by 2 percent. Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year.
In the second quarter of 2011, i.e. during period 1 March to 31 May, sales including VAT increased by 12 percent in local currencies. Sales in comparable units increased by 2 percent.
As a result of the sharp appreciation of the Swedish krona, sales in the second quarter converted into SEK amounted to SEK 32,400 (31,604) m including VAT, an increase of 3 percent.
Sales excluding VAT amounted to SEK 27,632 m (27,033), an increase of 2 percent.
The total number of stores amounted to 2,297 on 31 May 2011 versus 2,062 on 31 May 2010.
Percentage sales development for the month of June will be published on 15 July 2011.
Karl-Johan Persson, Managing Director
The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under Sweden's Securities Market Act. It was released for publication at 08.00 (CET) on 15 June 2011.
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company’s business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home. The H&M Group has approximately 2,300 stores in 40 markets, including franchise markets. In 2010, sales including VAT were SEK 126,966 million and the number of employees is more than 87,000. For further information, visit www.hm.com (http://www.hm.com/).