PARIS — Hennes & Mauritz AB said sales including VAT in the fiscal second quarter rose to 36.9 billion Swedish kronor, or $5.4 billion, a 12 percent gain in local currency terms.
The Swedish high-street retailer, which will publish full first-half results on June 20, said sales in comparable units for the period of March 1 to May 31 were up 2 percent. All dollar rates are calculated at average exchange rates for the period in question.
The figures come after Spanish rival Inditex earlier this week reported a 15 percent rise in sales and a 30 percent jump in net profits in its fiscal first quarter, which runs from Feb. 1 to April 30.
H&M also reported that same-store sales rose 3 percent in May following a 10 percent drop in April. Sales in local currencies rose 12 percent, versus a 1 percent decrease the previous month. In May 2011, H&M reported a 2 percent rise in same-store sales and a 12 percent increase in local currencies.
The store count stood at 2,575 on May 31 versus 2,297 stores on May 31, 2011.