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H&M says full year sales increased by 5 percent

By Prachi Singh

17 Dec 2018

Business

The Hennes & Mauritz AB (H&M) group said that the company continued to grow globally during 2018 in a rapidly changing fashion industry. The H&M group said in a statement that sales including VAT increased by 5 percent to 244,266 million Swedish krona (26,988 million dollars) in the financial year of 2018. Sales excluding VAT increased to 210,415 million Swedish krona (23,246 million dollars). In local currencies, H&M added that sales including VAT increased by 3 percent.

In the fourth quarter of 2018, i.e. during the period September 1, 2018 to November 30, 2018, sales including VAT increased to 65,449 million Swedish krona (7,230.4 million dollars). Sales excluding VAT increased to 56,429 million Swedish krona (6,233.9 million dollars), an increase of 12 percent compared to the corresponding quarter last year. In local currencies, sales including VAT increased by 6 percent.

Picture:Facebook/H&M