- Prachi Singh |
In the first quarter of 2017, H&M group’s sales including VAT amounted to 54,369 million Swedish krona (6,125 million dollars), an increase of 7 percent. Sales excluding VAT amounted to 46,985 million Swedish krona (5,294 million dollars), an increase of 8 percent. In local currencies, H&M said, sales including VAT increased by 4 percent.
The H&M group said its sales including VAT increased by 3 percent in local currencies adjusted for negative calendar effects in the month of February 2017 compared to the same month last year. The company added that the negative calendar effect amounted to approximately 4 percentage points since February 2017 had one day less than February 2016, which was a leap year.
The total number of stores under the group umbrella were 4,393 on February 28, 2017 compared to 3,970 on February 29, 2016.