Hennes & Mauritz AB (HNNMY.PK, HMRZF.PK, HEN.L) Wednesday said total sales including Value Added Tax or VAT in local currencies in May increased 9 percent compared to the same month the previous year.
Sales in comparable units, comprising the stores and the internet and catalogue sales countries that have been in operation for at least a financial year, were flat.
In the second quarter of 2013, which is between March 1 and May 31, sales including VAT increased 5 percent in local currencies. Sales in comparable units decreased 4 percent.
Sales including VAT in the second quarter converted into SEK amounted to 36.923 billion Swedish kronor, up from 36.947 billion kronor in the prior year. Sales excluding VAT slid to 31.635 billion kronor from 31.658 billion kronor.
According to the company, the difference of 5 percentage points between the sales development in the quarter in local currencies and kronor is due to substantial negative currency translation effects as a result of the continued strengthening of the Swedish krona against most sales countries' currencies.
The total number of stores amounted to 2,908 on May 31, 2013 compared to 2,575 on May 31, 2012.
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