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H&M UK sales rise

H&M’s UK sales rose 13% to SEK 2.07bn (£194m) for the third quarter of the year.

UK sales over the nine months to August 31 were SEK 5.9bn (£558m), up 10%. H&M added 12 new stores and closed one store in the UK over the period giving it a total of 178 stores in the country.

H&M said that total sales in September were up 15% in local currencies compared to the same period last year. Total like-for-like sales were up 14% in August, year on year.

H&M’s group sales exclusing VAT for the third quarter were SEK 26.9bn (£2.5bn) up 14%.Group profit after tax increased 23% to SEK 4.2bn (£398m).

H&M group sales excluding VAT for the nine month period were SEK 78.7bn (£7.3bn), up 7%.Group profit after tax was SEK 13.2bn (£1.2bn).

H&M said that the launch of the H&M website in the UK earlier this month had been successful. It added that globally autumn collections had been well received but added that the completion of around 20 shopping malls that already had been started has been halted.

H&M had 2, 078 stores at the end of the nine months.

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