Swedish apparel retailer Hennes & Mauritz AB (HEN.L,HMRZF.PK,HNNMY.PK) Monday said its total sales in June, including value added tax, or VAT, increased 13 percent in local currencies, with a 3 percent rise in comparable units sales.
Comparable units include sales at stores that have been in operation for at least a financial year. For the month of May, total sales growth including VAT in local currencies was 12 percent and comparable units sales improved 3 percent.
The group offers COS, Monki, Weekday and Cheap Monday as well as H&M Home brands. As at the end of June, total number of stores was 2,596, compared with 2,305 stores at the end of the same month last year.
Last month, the company had reported nearly 23 percent increase in profit for the second quarter, as its sales were resilient despite the prevailing economic headwinds. Reaffirming its expansion plan, H&M had said it would open around 275 new stores net during the year, with China, the US and the UK being the largest expansion markets.
In Stockholm, Hennes & Mauritz shares are currently trading at 242.7 Swedish kronor, down 1.66 percent, on a volume of 499 thousand shares.
 | | To receive FREE breaking news email alerts for Hennes & Mauritz AB and others in your portfolio |
|
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com
Business News