(Filed Under Financial and General Interest News). Hennes & Mauritz AB reported that sales including value-added tax fell 3 percent to 31.5 billion Swedish kronor, or $4.9 billion, compared to the third quarter of 2010.
Sales including value-added tax rose 5 percent compared with the prior year’s period. Sales excluding value-added tax came to 26.91 billion kronor, or $4.2 billion, up from 26.89 billion kronor, or $3.6 billion, compared to last year’s time period and equivalent exchange rate.
Sales in local currencies rose 8 percent in August, while same-store sales were flat, compared with a 24 percent increase in local currencies sales and a 14 percent rise in same-store sales during August 2010.
On August 31, H&M was operating 2,325 retail locations worldwide, compared with 2,078 stores on Aug. 31, 2010.
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