Thursday, July 31, 2014   

H&M sales better than expectations
(06-11 19:28)

The Swedish clothing giant Hennes & Mauritz (H&M) announced that its total sales including VAT in May 2014 increased by 19 percent in local currencies compared to the same month last year.
Sales in May were positively affected by calendar effects of approximately 3 to 4 percentage points, said the company in a statement.
In June, this will be reversed, i.e. sales will be affected by negative calendar effects of 3 to 4 percentage points. Furthermore, in the second quarter of 2014, sales including VAT increased by 16 percent in local currencies.
The total number of stores amounted to 3,285 on 31 May 2014 versus 2,908 on 31 May 2013, said the statement, adding that percentage sales development for the month of June will be published on 15 July.
H&M was founded in Sweden in 1947 and it is currently present in 53 markets worldwide. --Xinhua   
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