In the third fiscal quarter of 2017, thus during the period 1 June to 31 August, the H&M group’s sales including VAT increased by 5 percent in SEK compared to the corresponding quarter last year and amounted to SEK 59.383 million (SEK 56.802 million). Sales excluding VAT amounted to SEK 51.229 million (SEK 48.982 million), an increase of 5 %. In local currencies the increase was 4 %.
Sales in the quarter were affected by a significantly larger summer sale this year than in the corresponding quarter last year – both in terms of the number of items and the average discount per piece – which had a dampening effect on revenue growth. The summer’s aggressive mark-downs led to an improved inventory position and good conditions for the incoming autumn garments. This helped sales of the autumn collections get off to a good start.
The total number of stores in the group amounted to 4553 on 31 August 31, 2017 compared to 4,135 on August 31, 2016.
The nine months results will be available on September 28, 2017.