H&M Q3 sales rise 5%

INTERNATIONAL NEWS

H&M Q3 sales rise 5%


September 26 , 2017

H&M’s Q3 revenue growth was dampened by a need to offer more discounts.The company which also owns the Cos, & Other Stories, Weekday, Monki and Arket brands, said its total sales in the three months to August 31 rose 5% including VAT. That added up to a total of SEK59.383 billion. Sales without VAT were also up 5% to SEK51.229 billion, and in local currencies they rose only 4%. It’s not a strong result for the firm that continues to expand and open new stores globally with around 400 planned for this year. The company’s store count was up around 9% year-on-year at the end of Q3, which makes the 5% sales increase look rather tepid.