H&M comparable sales fall in February

High street fashion retailer H&M has reported 5% growth in total sales in February including VAT in local currencies. However, there was 3% fall in sales from stores and operations that have been open for at least a year.

The retailer said that sales were negatively impacted by calendar effects of just over 3 percentage points due to leap day in February 2012.

During H&M’s first quarter ending 28 February 2013, sales grew by 6% including VAT in local currencies, while sales in comparable units decreased by 3%. Sales in the quarter were negatively affected by calendar effects of just over 2 percentage points.

The total number of stores amounted to 2,818 on 28 February 2013 compared to 2,491 a year earlier,

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