Swedish fashion retailer H&M has announced its financial results for nine months ended August 31, 2017.
During the period under review, H&M’s sales including VAT increased by 7 per cent to SEK 173,290 million. Its sales excluding VAT amounted to SEK 149,597 million in the same period last year.
The fashion retailer’s profit after financial items reached SEK 15,936 million compared to 16,630 million in the nine-month period of last year. Profit after tax was SEK 12,191 million against 12,722 million in the same period of 2016.
In the third quarter, H&M’s sales including VAT soared 5 per cent to SEK 59,383 million compared to 56,802 million during the corresponding quarter of 2016.
Sales excluding VAT stood at SEK 51,229 million during the quarter against 48,982 million.
In the review period, H&M opened new stores in Kazakhstan, Colombia, Iceland and Vietnam. The brand will now launch a store in Georgia later this autumn, and in Uruguay and Ukraine by 2018.
