Jan 17, 2017
1 min

H&M (STO: HM-B) Monthly Sales Update: Lower-Than-Expected Growth in December

Insight Report
Company Earning Updates

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Each month, H&M reports sales growth in local currencies, including VAT, as well as monthly store numbers. December sales growth of 6% missed analysts’ expectations of 8%. The company offered no commentary. Sales growth lagged store growth by 466 bps in December, a widening from the 188-bps difference in November. H&M will publish its full-year report for the period of December 1, 2015 to November 30, 2016 on January 31, 2017.
Source: Company reports/Fung Global Retail & Technology
Note on Sales Growth Versus Store Growth
Changes in the difference between sales growth and store growth suggest changes in the underlying sales growth rates. However, the measure should not be taken as indicative of comparable sales growth in absolute terms, as the figures are calculated from rounded sales growth data and unrounded store growth data.

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