In the third quarter of 2017, i.e. during the period 1 June to 31 August, the H&M group’s sales including VAT increased by 5 percent in SEK compared to the corresponding quarter last year and amounted to SEK 59,383* m (56,802). Sales excluding VAT amounted to SEK 51,229* m (48,982), an increase of 5 percent. In local currencies the increase was 4 percent.
Sales in the quarter were affected by a significantly larger summer sale this year than in the corresponding quarter last year – both in terms of the number of items and the average discount per piece – which had a dampening effect on revenue growth. The summer’s aggressive mark-downs led to an improved inventory position and good conditions for the incoming autumn garments. This helped sales of the autumn collections get off to a good start.
The total number of stores in the group amounted to 4,553 on 31 August 2017 compared to 4,135 on 31 August 2016.
Communication in connection with the nine-month report on 28 September
The nine-month report will be published at 08:00 CET on 28 September 2017. A telephone conference for the financial market and media will be held in English at 09:00 CET, hosted by CEO Karl-Johan Persson, CFO Jyrki Tervonen and Head of Investor Relations Nils Vinge.
For login details please register at:
These login details are also available at about.hm.com.
To book interviews with CEO Karl-Johan Persson and Head of Investor Relations Nils Vinge, please contact:
Kristina Stenvinkel, Head of Communications and Press
Telephone: +46 8 796 39 08
Sales development for the fourth quarter will be published at 08:00 CET on 15 December 2017. The full-year report for 2016/2017 will be published at 08:00 CET on 31 January 2018.
Karl-Johan Persson, CEO
*The amounts are provisional and may deviate slightly from the nine-month report, covering the period 1 December 2016 – 31 August 2017, that will be published on 28 September 2017.