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Hennes & Mauritz sales increased 11 percent

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Staff writer ▼ | March 18, 2014
Swedish apparel retailer Hennes & Mauritz AB or H&M announced that total sales in February, including Value Added tax or VAT, increased 11 percent in local currencies compared to the same month last year.
Hennes & Mauritz
Hennes & MauritzSwedish apparel retailer Hennes & Mauritz AB or H&M announced that total sales in February, including Value Added tax or VAT, increased 11 percent in local currencies compared to the same month last year.


The company had reported sales growth of 5 percent in February of financial year 2012/2013. In the preceding month of January 2014, total sales, including VAT increased 15 percent in local currencies. For the first quarter ended February 28, 2014, sales grew 12 percent including VAT in local currencies.

In Swedish kronor terms, quarterly sales, including VAT increased by 13 percent to 37.52 billion kronor from the prior year's 33.15 billion kronor. Sales, excluding VAT, amounted to 32.14 billion kronor from 28.39 billion kronor in the prior year.

For its fourth quarter, H&M had posted sales increase of 13 percent, including VAT, in local currencies. Sales in comparable units were up 3 percent. On converted to kronor, sales excluding VAT amounted to 36.50 billion kronor, up from 32.50 billion kronor.

As at February 28, 2014, total number of stores totaled 3,192, up from 2,818 stores last year.


 

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