Connecting to LinkedIn...

H&M sales boom in June


Monthly sales results published today show that H&M continues to perform well in the international market.

Group sales for the fashion retailer were up 20 per cent in June compared to same month last year.

Like-like-sales have also risen during the period, increasing nine per cent year-on-year.

Sarah Peters, Senior Retail Analyst at Verdict Research, commented: “The 20 per cent rise in global sales is certainly a very strong result in today’s climate and represents an improvement on trade over the last six months.

“Sales are likely to have been boosted by the 86 stores H&M opened during the first half of its year.”

Though today’s figures do not elaborate on the company’s UK performance, the benefits of a hot early summer period are thought to have enhanced domestic performance.

Peters said: “While only accounting for a small percentage of global sales, UK sales are expected to have been good.”

“The UK traded well through the first half of the year with sales reported to be up 15 per cent in local currency. This trend is likely to have continued, with the UK benefiting from good weather boosting sales of summer product as well as new store openings.”

Today’s announcement follows strong sales reported in June for the company’s previous six months, reflecting a healthy womenswear, menswear and childrenswear market in the UK.

Meanwhile, the retailer is due to launch both its first online ordering service and homewares range in the UK this autumn.

Published on Tuesday 27 July by Editorial Assistant

Articles similar to H&M

Articles similar to Financial results

comments powered by Disqus
Top Feature