H&M report growth

H&M on Tuesday announced its sales results, reporting a 21% growth from last year. Sales in local currencies increased 21%, including VAT, over the prior year period. Comparable stores sales improved to 8% from 1% in the year-ago period. The number of stores was 1,407 on April 30, 2007, compared to 1,239 in the preceding year period. The Swedish retailer has scheduled to release its sales development in the month of May together with the Half-Year Report on June 20, 2007.

In March 2007, the company's sales rose 29% from the preceding year period, while its comparable store sales improved to 17%, compared to 8% decline in the previous year period. Sales for February 2007 were up 15% over the year-ago. Comparable store sales rose to 5% from 2% in the prior year period. Hennes & Mauritz said that its sales increased by 16% for the January 2007, while its comparable store sales remained flat at 5%.