LONDON – Sales momentum is bouncing back at fast-fashion giant Hennes & Mauritz: The Swedish company said Monday that group sales in July were up 10 percent, year-over-year, in local currencies.
That figure, which includes VAT, compares with an 8 percent uptick in June. Sales momentum has returned to February levels when the year-over-year figure was also 10 percent. In the 2014-15 fiscal year, overall sales growth was 11 percent.
H&M said the total number of stores amounted to 4,105 on July 31, compared to 3,649 on the same date last year.
The company said Monday that its third-quarter revenue figure will be published on Sept. 15, while the nine-month report will be released on Sept. 30.