H&M June sales rise 7%, to move to quarterly statements, store count up 412 units on a year ago
The H&M Group’s sales for June, including VAT, rose 7% year-on-year in local currencies, the Swedish retail giant said Monday. Converted into Swedish krona, sales increased 10% for the period.
Its total store count rose to 4,517 on June 30 from 4,095 stores a year ago, it said in its usual brief statement.
In other news, H&M is to move to providing quarterly performance updates rather than monthly information.
“A month is far too short a period over which to assess how sales are developing; in fact, a single month’s sales can actually be misleading, since calendar and weather effects, among other things, may significantly affect the outcome,” it explained in a statement.
Capital markets days have been arranged in which more in-depth information about the business will be given on a quarterly basis, published ahead of each interim report, it added.
Q3 sales are set to be published on September 15 and Q4 on December 15.