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H&M Sales Rise 12% in Q1

The Swedish high street retailer also announced the launch of online sales in France.

PARIS — Hennes & Mauritz AB said sales including value-added tax in the fiscal first quarter rose to 37.52 billion Swedish kronor, or $5.76 billion, a 12 percent gain in local currency terms.

 

The Swedish high-street retailer, which will publish full first-quarter results on March 27, said sales in comparable units for the period of Dec. 1 to Feb. 28 were up 13 percent. Dollar rates are calculated at average exchange for the period to which they refer.

 

H&M also reported that total sales rose 11 percent in local currency terms in February after a 15 percent increase the previous month. This compared with a rise of 5 percent in February 2013. H&M no longer provides same-store sales data.

 

The fast-fashion giant on Monday launched online sales in France, its 10th market to offer e-commerce, marking the debut of H&M Home exclusively online in that market. H&M launched online sales in the U.S. in August 2013 and plans to bring e-commerce to another three large markets by the end of 2014.

 

The store count stood at 3,192 on Feb. 28 versus 2,818 stores on Feb. 28, 2013.

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