H & M HENNES & MAURITZ AB THREE-MONTH REPORT
4/8/2010 2:00 AM EST
1 December 2009 – 28 February 2010
THE FIRST QUARTER
• The H&M Group’s sales excluding VAT amounted to SEK 24,846 m (23,299), an increase of 7 percent. In local currencies, the increase was 13 percent.
• Gross profit amounted to SEK 15,390 m (13,178), corresponding to a gross margin of 61.9 percent (56.6).
• Profit after financial items amounted to SEK 5,055 m (3,554), an increase of 42 percent. Group profit after tax was SEK 3,741 m (2,577), corresponding to SEK 4.52 (3.11) per share.
• Sales in February increased by 10 percent in local currencies compared to the same month last year.
• Successful opening in Seoul, South Korea in February.
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• Successful franchise openings in Tel Aviv and Jerusalem, Israel in March.
• Sales in March increased by 21 percent in local currencies compared to the same month last year.
[Graphic removed – see pdf for table.]