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RPT-H&M Q2 pretax profit beats expectations
June 29, 2017 / 6:31 AM / 5 months ago

RPT-H&M Q2 pretax profit beats expectations

(Repeats with no changes to text)

STOCKHOLM, June 29 (Reuters) - Fashion retailer H&M posted on Thursday a 10 percent increase in fiscal second-quarter pretax profit, beating expectations for a 1.6 percent increase, and said it was helped by continued expansion and tight cost control.

Pretax profit in the March-May period grew to 7.71 billion crowns ($904.3 million) from a year-earlier 7.00 billion, against a mean forecast in a Reuters poll of analysts of 7.11 billion.

H&M said it expected local-currency sales in June to increase by 7 percent year-on-year, against a mean forecast of 8 percent. ($1 = 8.5256 Swedish crowns) (Reporting by Anna Ringstrom)

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