PARIS — Hennes & Mauritz AB said sales including VAT in the fiscal first quarter rose to 32.5 billion Swedish kronor, or $4.8 billion, a 13 percent gain in local currency terms.
The Swedish high-street retailer, which will publish full first-quarter results alongside its annual report on March 29, said sales in comparable units for the period of Dec. 1 to Feb. 29 were up 3 percent.
All dollar rates are calculated at average exchange rates for the period in question.
RELATED STORY: Muted Excitement for Marni at H&M >>
H&M also reported that same-store sales rose 2 percent in February following a 3 percent increase in January. “Sales in February were positively affected by approximately 3 percentage points due to the leap day on 29 February 2012,” it stated.
Sales in local currencies rose 13 percent, versus a 12 percent jump the previous month. In February 2011, H&M reported a 1 percent rise in same-store sales and a 9 percent increase in local currencies.
The store count stood at 2,491 on Feb. 29 versus 2,212 stores on Feb. 28, 2011.