PARIS — Hennes & Mauritz AB said sales including VAT in the fiscal third quarter rose to 33.6 billion Swedish kronor, or $4.9 billion, a 10 percent gain in local currency terms.
The Swedish high-street retailer, which will publish full third-quarter results on Sept. 27, said sales in comparable units were flat for the period of June 1 to Aug. 31. All dollar rates are calculated at average exchange rates for the period in question.
H&M also reported that same-store sales fell 4 percent in August following a 2 percent increase in July. Sales in local currencies rose 6 percent, versus a rise of 11 percent the previous month.
“It was primarily the extreme heat wave in a number of European markets in August that affected sales negatively,” the retailer stated. In August 2011, H&M reported flat same-store sales and an 8 percent increase in local currencies. The store count stood at 2,629 on Aug. 31 versus 2,325 stores on Aug. 31, 2011.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)