H&M posted a rise in sales in its final financial quarter but did not provide guidance on its full-year profit expectations.
The Swedish fashion group recorded a 12% increase in sales including VAT year on year to 65.4bn SEK (£5.7bn) in the three months to November 30, up 6% in local currency.
Sales during the period excluding VAT rose 12% to 56.4bn SEK (£5bn).
For the full financial year, sales growth was more subdued, however, up 5% to 244.3bn SEK (£21.4bn) including VAT, a 3% rise in local currency terms.
Sales for H&M’s full-year excluding VAT increased 5% to 210.4bn SEK (£18.3bn).
The fashion group, which will post its full-year results on January 31, did not provide pre-tax profit figures for its most recent financial quarter or guidance on its full-year profits in its latest results.
The retail group’s profits over the course of its most recent financial year have been hampered by logistical issues and a slowdown in the wider fashion market. It recorded a 20% fall in pre-tax profits to 40.1bn SEK (£350m) in its previous financial quarter to the end of September.
H&M opened a new Home store in Westfield London last month and a new concept store in Hammersmith earlier this month designed to “improve customer experience and build upon the strength of the H&M brand”.
The fashion group’s latest results come during a bruising period for fashion retail, as resilient players Primark and Asos both warned of tough trading in November this month and the latter releasing a profit warning yesterday as a result.
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