H&M'S First Quarter Earnings Rose 8%
According to the report released by H&M, a fast fashion giant in Sweden, the company's first quarter performance rose 8%.
From December 1st to February 29th, H&M included the first quarter.
Value added tax
Sales increased by 9% to $5 billion 900 million, and sales increased by 8.5% to $5 billion 100 million after the VAT was removed.
H&M
A spokesman for the company revealed that the positive impact of the leap day in February 29th brought about a 2% increase in February sales.
Converted by Danish kroner, H&M January this year.
Sales volume
An increase of 7% was recorded. In February, sales increased by 10%, excluding exchange rate effects. Sales in February increased 15% over the same period last year.
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Spain's fast fashion Zara parent company Inditex group released its full year results in 2015. According to earnings data, the group's 2015 profit rose 14.9% to 2 billion 880 million euros (about 20 billion yuan), and achieved double-digit growth targets in all regions of the world.
Inditex group owns Zara, Bershka, Pull & Bear and Massimo Dutti brand. As of January 31, 2016, the group's sales increased by 15.4% to 20 billion 900 million euros in 2015.
The group said sales growth benefited from strong sales of new stores, while same store sales rose 8.5%.
In 2015, the group opened 330 new stores in the world.
According to a group spokesman, the sales prospects of the group remained optimistic in 2016. According to the sales data from February 1st to March 7th, the sales of stores increased by 15% over the same period.
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