• Home
  • News
  • Business
  • H&M August sales advance 7 percent

H&M August sales advance 7 percent

By Prachi Singh

loading...

Scroll down to read more

Business

The H&M group’s sales including VAT increased by 7 percent in local currencies in August 2016 compared to the same month the previous year. The company said that sales development in August had a very good start. But sales were negatively affected in the second half of the month by exceptionally hot weather in most of the group’s markets.

In the third quarter of 2016, from June 1 to August 31, 2016, sales including VAT increased by 8 percent in local currencies compared to the corresponding quarter last year. Sales including VAT in the third quarter converted into Swedish krona increased by 6 percent and amounted to 56,802 million Swedish krona (6,683 million dollars). Sales excluding VAT amounted to 48,982 million Swedish krona (5,763 million dollars), an increase of 6 percent.

The total number of stores amounted to 4,135 on August 31, 2016 compared to 3,675 on August 31, 2015.

Picture:H&M

H&M