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H & M's sales record for September – slow sales development

Monday, 17 October 2011
Hennes & Mauritz Sales in comparable stores declined by 7 percent in September (compared to similar period last year when it grew by +8 percent.

In September 2011, H&M group total sales including VAT increased by 3 percent compared to the same month the previous year, in local currencies. In comparable units sales decreased by 7 percent. Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year.

According to analysts, on average had expected that the comparable sales would decline by 5.6 percent and that total sales would be up by 3.3 percent.

H & M has previously stated that the total sales in local currencies during the period September 1 to 27 rose by 3 percent.

The total number of stores amounted to 2,363 on 30 September 2011 versus 2,111 on 30 September 2010.
By Scancomark.se Team

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