H&M Group (HEN.L, HMRZF.PK, HNNMY.PK) reported that total sales in March 2013 decreased by 4 percent including VAT in local currencies compared to the same month last year. Sales in comparable units decreased by 12 percent. Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year.
The company said that the sales development should be seen in light of very strong comparable sales development in March 2012 when sales increased by 26 percent in total and by 16 percent in comparable units.
In March last year, the weather conditions were favourable for the season while the reverse was true in March 2013 with unusually cold weather and snow in many markets, particularly in Europe and North America. This has delayed the start of the season for the spring collections and sales have been negatively affected, the company said.
The total number of stores amounted to 2,853 on 31 March 2013 versus 2,517 on 31 March 2012.
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