Releases - H & M Hennes & Mauritz AB

America's National Retail Federation, the world's biggest retail trade organisation, has named H&M as its International Award Winner. H&M's chairman Stefan Persson will receive the award at a ceremony in New York in mid-January.

The award is given annually to a retailer who has achieved a reputation for excellence within both its home country and internationally. H&M's successful expansion in both Europe and the...

H&M, Hennes & Mauritz, the Swedish-based clothing retailer recently successfully launched in the US, will be opening its second Manhattan store this month. The new store, the ninth to be opened in the northeastern United States this year, is located at 34th Street @ Herald Square, bringing H&M to the midtown area. H&M, whose business concept is 'Fashion and quality at the best price', now counts over 640 stores...

The period in brief:

• Group turnover for the nine months period amounted to SEK 25,428 M
(SEK 23,549 M), an increase of 8 per cent compared with the same period
last year. In comparable currencies 13 per cent.

• Profit after financial items was SEK 2,613 M (SEK 3,209 M), a
decrease of 19 per cent compared with the same period last year, mainly
due to price reductions, larger than usual, of SEK 375 M.

•...

• Group turnover amounted to SEK 17,242 M (SEK 15,683 M), an increase of 10 per cent. Adjusted for exchange rate fluctuations, the increase was 16 per cent.

• Profit after financial items was SEK 1,813 M (SEK 2,049 M).

• Adjusted for negative effects of currency rate fluctuations of SEK 163 M and costs for the start-up of two new markets, the USA and Spain, of SEK 140 M, profit before tax amounted to SEK 2,116...

H&M, Hennes & Mauritz, is opening its first store in Spain in Barcelona, Glories 6th of April, followed by two additional store openings in Zaragoza in the shopping centers of Grancasa, April 7, and Augusta, April 13. The fourth opening will take place during May in Barcelona la Maquinista. In fall 2000 it's planned to open in the center of Madrid and in Spring 2001 in Valencia.

The first H&M store in Barcelona,...

• Group turnover amounted to SEK 8,265 M (SEK 7,277 M), an increase of 14 per cent. Adjusted for exchange rate fluctuations, the increase was 19%.

• Profit after financial items amounted to SEK 671 M (SEK 759 M).

• Compared with last year, the profit has been affected negatively by changes in exchange rates by SEK 62 M.

• During the first quarter, the result has been charged with start-up costs of SEK 56 M...

H&M, Hennes & Mauritz, is opening three stores in the New York area starting with the Fifth Avenue location in New York City on March 31st, followed by two additional stores opening in Palisades Center, West Nyack on April 6 and Garden State Plaza, New Jersey on April 13. H&M plans to open a total of five new stores in the New York area during 2000 including another Manhattan store this fall on Broadway and 34th...

The Managing Director of H & M Hennes & Mauritz AB, Mr Fabian Månsson, is leaving his duties in the H&M Group. The Board of Directors has appointed Rolf Eriksen, currently the Managing Director of H&M's Danish subsidiary, as the new Managing Director of the H&M Group.

Rolf Eriksen has 15 years experience within H&M as Country Manager for Sweden as well as Denmark ? both at the same time for several years.

Mr...

• Group turnover amounted to SEK 32,977 M (SEK 26,650 M), an increase of 24 per cent compared with the previous year

• Same store sales increased in all markets

• Profit before tax was SEK 4,759 M (SEK 3,468 M), an increase of 37 per cent. Adjusted by a one-time expenditure for a millennium bonus to the employees of SEK 94 M, the result increased by 40 per cent and amounted to SEK 4,853 M.

• The last...