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H&M Revenues Rise 2 Percent in Quarter

Fast-fashion retailer reports same-store sales rose 2 percent in May.

PARIS — Hennes & Mauritz AB said sales excluding VAT in the second quarter rose 2 percent to 27.6 billion Swedish kronor, or $4.4 billion, reflecting the sharp appreciation of the Swedish currency during this period.

The Swedish high-street retailer, which will publish full second-quarter results on June 22, provided the quarterly sales figures for the first time. It also broke out monthly sales data for May.

Same-store sales rose 2 percent in the month following an increase of 11 percent in April. Sales in local currencies were up by 12 percent, a smaller gain versus April, when they rose by 21 percent. In May 2010, H&M had reported a 4 percent drop in same-store sales and a 6 percent increase in local currencies.

The store count at the world’s third-largest fashion chain stood at 2,297 doors on May 31 versus 2,062 stores at the same time last year.