Sales development in the third quarter 2017
In the third quarter of 2017, i.e. during the period 1 June to 31 August, the H&M group’s sales including VAT increased by 5 percent in SEK compared to the corresponding quarter last year and amounted to SEK 59,383* m (56,802). Sales excluding VAT amounted to SEK 51,229* m (48,982), an increase of 5 percent. In local currencies the increase was 4 percent.
Sales in the quarter were affected by a significantly larger summer sale this year than in the corresponding quarter last year – both in terms of the number of items and the average discount per piece – which had a dampening effect on revenue growth. The summer’s aggressive mark-downs led to an improved inventory position and good conditions for the incoming autumn garments. This helped sales of the autumn collections get off to a good start.
The total number of stores in the group amounted to 4,553 on 31 August 2017 compared to 4,135 on 31 August 2016.
Communication in connection with the nine-month report on 28 September
The nine-month report will be published at 08:00 CET on 28 September 2017. A telephone conference for the financial market and media will be held in English at 09:00 CET, hosted by CEO Karl-Johan Persson, CFO Jyrki Tervonen and Head of Investor Relations Nils Vinge.
For login details please register at:
These login details are also available at about.hm.com.
To book interviews with CEO Karl-Johan Persson and Head of Investor Relations Nils Vinge, please contact:
Kristina Stenvinkel, Head of Communications and Press
Telephone: +46 8 796 39 08
Sales development for the fourth quarter will be published at 08:00 CET on 15 December 2017. The full-year report for 2016/2017 will be published at 08:00 CET on 31 January 2018.
Karl-Johan Persson, CEO
*The amounts are provisional and may deviate slightly from the nine-month report, covering the period 1 December 2016 – 31 August 2017, that will be published on 28 September 2017.
Contact: Nils Vinge, Head of IR, +46 8 796 52 50
The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under the EU Market Abuse Regulation (596/2014 /EU). The information was submitted for publication by the abovementioned person at 08.00 CET on 15 September 2017. This press release, along with additional information about H&M, is available at about.hm.com
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, Cheap Monday, & Other Stories and H&M Home as well as ARKET. The H&M group has 41 online markets and more than 4,500 stores in 68 markets including franchise markets. In 2016, sales including VAT were SEK 223 billion. The number of employees amounts to more than 161,000. For further information, visit about.hm.com.