H & M HENNES & MAURITZ AB THREE MONTH REPORT

H & M HENNES & MAURITZ AB THREE MONTH REPORT

• Sales excluding VAT for the H&M Group for the first three months of the
financial year amounted to SEK 23,299 m (19,742), an increase of 18 percent. In
local currencies, the increase was 4 percent. In comparable units, sales
decreased by 5 percent.

• Gross profit amounted to SEK 13,178 (11,770), corresponding to a gross margin
of 
56.6 percent (59.6). The gross margin has been negatively affected by currency
effects. Excluding these effects it would have been 60.8 percent.

• Profit after financial items for the first quarter was SEK 3,554 m (4,057).
Group profit after tax was SEK 2,577 m (2,941), corresponding to SEK 3.11 (3.55)
per share, 
a decrease of 12 percent. The profit decrease is related to the above mentioned
currency effects.

• Price reductions were on the same level as in the corresponding period last
year.

• The stock-in-trade, which is well-composed, is at a satisfactory level.

• The launch of H&M Home at the end of February was well received.

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• Very good reception of the first two stores in Moscow, Russia in March.

• Contract signed for the first store in Seoul, South Korea. The opening is
planned for spring 2010.

• Jordan new franchise market in spring 2010.


Sales
Sales excluding VAT for the H&M Group for the first three months of the
financial year amounted to SEK 23,299 m (19,742), an increase of 18 percent. In
local currencies the increase was 4 percent. In comparable units, sales
decreased by 5 percent. Sales including VAT amounted to SEK 27,282 m (23,241). 

In February 2009, sales including VAT in local currencies increased by 1 percent
compared to the same month last year. Sales in comparable units decreased by 8
percent. Negative calendar effects in February are estimated to have affected
sales by 4-5 percentage units. The sales development in February should be seen
in the light of the fact that the increase in February 2008 was 24 percent
compared to the year before.

The Group opened 13 (11) stores during the first quarter and 3 (4) stores were
closed. The total number of stores in the Group as per 28 February 2009 thus
amounted to 1,748 (1,529), of which 22 are franchise stores.


Contact persons
Nils Vinge, IR	
+46-8-796 5250

Jyrki Tervonen, CFO	
+46-8-796 5277

Rolf Eriksen, CEO                                       
+46-8-796 5233

Switchboard	
+46-8-796 5500

Information about H&M and press images are available at www.hm.com