The Quotes are Powered By Forexpros, the Forex, Futures, and Stock Markets Portal.

News Headlines and Feed

Business News Videos

Sales fall for H&M in August but group sales rose

Monday, 17 September 2012
Clothing giant H&M reported a sales fall by 4 percent for August 2012.
H&M Group total sales including VAT in local currencies increased by 6 percent compared to the same month the previous year.

Sales in comparable units decreased by 4 percent. Comparable units comprise the stores and the online sales countries that have been in operation for at least a financial year. It was primarily the extreme heat wave in a number of European markets in August that affected sales negatively, the company writes in a press release.

In the third quarter of 2012, i.e. during period 1 June to 31 August, sales including VAT increased by 10 percent in local currencies compared to the corresponding quarter last year. Sales in comparable units were unchanged, the company said.

The strong appreciation of the Swedish krona primarily against the euro during the third quarter has resulted in large negative currency translation effects, especially during the third quarter.

Sales including VAT in the third quarter converted into SEK amounted to SEK 33,568 m (31,511). Sales excluding VAT amounted to SEK 28,806 m (26,912), an increase of 7 percent.
The total number of stores amounted to 2,629 on 31 August 2012 versus 2,325 on 31 August 2011.
by scancomark.com Team

We welcome your contribution. Did you find anything wrong with this article? Do you want to contribute to our news network? Do have a news tip or assist us with a correction