Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

H&M Reports Its Strongest Monthly Sales Growth Since November

June 11 (Bloomberg) -- Hennes & Mauritz AB, Europe’s second-biggest clothing retailer, reported the strongest monthly sales growth since November, exceeding analysts’ estimates.

Revenue in May rose 19 percent from a year earlier at local currency rates, including value-added taxes, the Stockholm-based retailer said in a statement today. That topped the 12 percent average estimate in a survey of analysts by SME Direkt.

H&M said sales were helped by “calendar effects” of as much as 4 percentage points, and advised that this will be reversed in June. The month had one more Saturday than last year and unlike last year didn’t include the Pentecost holiday.

Sales for the second quarter of the financial year totalled 37.8 billion kronor ($5.7 billion), excluding value-added taxes. That topped the 36.8 billion-kronor average estimate.

H&M had 3,285 stores at the end of May, up from 2,908 a year earlier. The Swedish retailer is due to announce second-quarter earnings June 18.

Inditex SA, the world’s largest apparel retailer, reported first-quarter profit that topped analysts’ estimates earlier today and said it plans a stock split.

To contact the reporter on this story: Katarina Gustafsson in Stockholm at kgustafsson@bloomberg.net

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net Paul Jarvis

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.