H&M May Sales Up 4%, 2Q Sales Up 5% in Local Currencies

By Dominic ChoppingFeaturesDow Jones Newswires

Swedish fashion retailer Hennes & Mauritz (HM-B.SK) said Thursday that sales increased 4% in local currencies in May, with sales converted into Swedish kronor increasing by 8%.

In May last, local currency sales had increased by 9%.

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In the company's second quarter, spanning March 1 to May 31, sales excluding value-added tax and translated into Swedish kronor rose to SEK51.38 billion ($5.91 billion), from SEK46.87 billion last year.

Including VAT, sales in the second quarter rose 10% to SEK59.54 billion from SEK54.34 billion. In local currencies, sales in the second quarter including VAT, rose 5%.

H&M had 4,498 stores worldwide on May 31, up from 4,077 on the same date last year.

Full earnings figures for the second quarter will be published on June 29.

-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter: @domchopping @WSJNordics

(END) Dow Jones Newswires

June 15, 2017 02:43 ET (06:43 GMT)