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H&M 1Q15 sales up 15pc

Swedish fashion retailer H&M said on Monday that sales including value-added tax (VAT) rose 15 percent in local currencies in February 2015 compared to the same month the previous year.

In the first quarter from 1 December 2014 to 28 February 2015, sales jumped 15 percent including VAT in local currencies compared to the corresponding quarter last year. Sales in the first quarter converted into Swedish Krona grew 25 percent to SEK46.79 billon (USD5.41b) including VAT. Sales excluding VAT amounted to SEK 40.28b.

The total number of stores amounted to 3,551 on 28 February 2015 versus 3,192 on 28 February 2014.

The fashion giant has added 359 stores since 28 February 2014, bringing the total number of its store count to 3,551 by 28 February 2015,