Same-store sales fall 5%, Easter shift blamed
Press Release:
STOCKHOLM–(BUSINESS WIRE)– Regulatory News:
In the month of March 2011, H&M (STO:HMB.st – News) group total sales increased by 2 per cent compared to the same month previous year, calculated in local currencies including VAT. In comparable units sales decreased by 5 per cent. Comparable units comprise the stores and the internet and catalogue sales countries that have been in operation for at least a financial year.
Sales development in March 2011 should be seen in the light of a very strong sales increase in the corresponding month last year which among other things was affected by a positive Easter effect.
The total number of stores amounted to 2,238 on 31 March 201
1 versus 2,018 on 31 March 2010.
Sales development in the month of April will be published on 16 May 2011.
The information in this press release is that which H & M Hennes & Mauritz AB (publ) is required to disclose under Sweden’s Securities Market Act. It was released for publication at 08.00 (CET) on 15 April 2011.
About H & M
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on NASDAQ OMX Stockholm. The company’s business concept is to offer fashion and quality at the best price. In addition to H&M, the group includes the brands COS, Monki, Weekday and Cheap Monday as well as H&M Home.
The H&M Group has more than 2,200 stores in 40 markets, including franchise markets. In 2010, sales including VAT were SEK 126,966 million and the number of employees is more than 87,000. For further information, visit www.hm.com.
