PARIS — Hennes & Mauritz AB said sales including VAT in the fiscal first quarter rose 2 percent to 33.1 billion Swedish kronor, or $5.1 billion, compared to the same period last year.
The Swedish fast-fashion retailer said first-quarter sales in local currencies rose 6 percent between Dec.1, 2012, and Feb. 28, including VAT, compared to the same period last year. Sales in comparable units were down 3 percent.
The difference between SEK and local currency numbers reflects the continued strengthening of the krona, the group reported.
All dollar rates are calculated at average exchange rates for the period in question.
The figures come after Spanish rival Inditex reported a 22 percent leap in net profits and a 16 percent rise in sales in its fiscal year.
In February, H&M’s total sales increased 5 percent year-on-year, including VAT in local currencies, the Swedish group also reported. Sales in comparable units, which includes stores, Web sales and catalogues in operation for at least a year, declined by 3 percent.
Sales were negatively impacted by the leap day on February 29, 2012, resulting in a 3 percentage point disadvantage, the group said.
H&M’s stores numbered 2,818 on Feb. 28, 2013, compared with 2,491 on Feb. 29, 2012.