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H&M posts bumper May sales figures

H&M Group has posted a healthy 19% increase in total sales for May compared to the same month last year.

The figure includes VAT and is based on local currencies. H&M declined to disclose the sales figures.

The group comprises H&M plus fascias COS, Monki, Weekday, Cheap Monday, & Other Stories as well as H&M Home.

The Swedish retail giant noted sales this May were positively affected by ‘calendar effects’ of approximately 3-4%. In June, this will be reversed and sales will be affected by negative ‘calendar effects’ of 3-4%. This was due to an extra Saturday shopping day this May than in 2013, and fewer holidays when stores were closed in some of the countries it operates in.

In the second quarter of 2014, the period March 1 to May 31, total sales including VAT increased by 16% in local currencies to equivalent SEK44,181 (£3.92bn). This is an improvement on the group’s first quarter, where equivalent group sales rose 12%.

The total number of stores amounted to 3,285 on May 31 2014 versus 2,908 on May 31 2013.

In 2014 the group plans to open 375 new stores, including ones in Melbourne, Milan, Shanghai and Munich, as well as a further two flagship stores in Manhattan – on Fifth Avenue and Herald Square.

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