August pushes Hennes & Mauritz sales forward

August pushes Hennes & Mauritz sales forward

Swedish clothing chain Hennes & Mauritz has had a strong August 2013, reaching like-for-like sales that were 4% higher than in August 2012. For the entire quarter, there was a 2% increase.

Growth stimulated by more stores

Total sales were even 14% higher compared to August 2012, but that was due to a huge increase in outlets: H&M had 2,964 stores by the end of the past month, compared to 2,629 stores last year.

 

Its strong growth is also partly attributed to the late summer, pushing people to purchase more summer clothing. Usually, August is a period wherein shoppers tend to wait for autumn clothing.

 

A strong August enabled Hennes & Mauritz to boast a rise in turnover for its third quarter of fiscal year 2012/2013. Without value added tax, H&M secured a rise of 11%, to 3.68 billion euro.

 

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