PARIS — Hennes & Mauritz AB said it will switch from reporting monthly sales data to releasing figures on a quarterly basis, in line with most companies in the industry.
The Swedish fast-fashion retailer also said it will organize capital markets days for analysts and investors for the first time. The company plans to release quarterly sales numbers on the 15th of the month in which a financial report is scheduled.
“The reasoning is that a month is far too short a period over which to assess how sales are developing; in fact, a single month’s sales can actually be misleading, since calendar and weather effects — among other things — may significantly affect the outcome,” Karl-Johann Persson, chief executive officer of H&M, said in a statement.
The high-street chain said sales including VAT, converted into Swedish krona, rose 10 percent in June. Sales rose 7 percent in a local currencies in June, matching Barclay’s estimates.
The company had 4,517 stores on June 30, 422 more than in the same month last year.
The fast-fashion behemoth has continued to increase its investments this year despite a difficult retail environment, expanding its number of stores, pushing into new countries and focusing on an omnichannel mix.