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H & M post higher than expected sales for December 2012

Tuesday, 15 January 2013
Clothing chain H & M's total sales rose 8 percent in December, compared with the same month last year. Same-store sales decreased by 2 percent.

According to a statement from the company, In December 2012, H&M Group total sales including VAT in local currencies increased by 8 percent compared to the same month the previous year. On the contrary, sales in comparable units decreased by 2 percent.

Market expectations for December were at a total sales increase of 5.4 percent and a decrease in comparable stores of 3.9 percent, according to Market analysts Estimates compilation with 14 participating analysts. The change is calculated at constant exchange rates and including VAT.

Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year. Sales in December were affected by a negative calendar effect of approximately 3 percentage points.

The total number of stores amounted to 2,809 on 31 December 2012 versus 2,490 on 31 December 2011.
by Team

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