. The retailer, which operates 2,472 stores worldwide, said group total
sales including VAT increased by 9% in November compared to the same
month last year. This growth was helped by the addition of 266 new
stores during the period .
.The figures mean H&M has seen its comparable store sales fall in
six of the last nine months. In October, same-store sales dropped 2%,
while in September they tumbled 7%. August same-store sales were flat
with the prior year, but followed a fall of 6% in July, and a drop of 4%
in June. Comparable-store sales rose 2% in May and 11% in April .
.The Stockholm-based retailer also said that fourth quarter same-store sales fell 3% .
.The company will report its full-year results on January 26, but says
unaudited sales in the three months to November 30 increased by 6% in
local currencies to SEK36.17bn ($5.2 billion) from SEK34.8billion ($5
billion) a year earlier. Excluding VAT, sales rose 4% to SEK30.9bn
($4.46 billion) .
Date:12/25/2011
Source:www.mrketplace.com