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H&M June comparable sales +3 pct, below forecast
July 16, 2012 / 6:08 AM / 5 years ago

H&M June comparable sales +3 pct, below forecast

STOCKHOLM, July 16 (Reuters) - Hennes & Mauritz, the world’s second-largest apparel retailer, said on Monday annual sales growth at stores open a year or more was flat in June, at 3 percent in local currencies, lagging a Reuters poll forecast for a 5 percent rise.

Total sales in May, the first month of the Swedish budget fashion firm’s fiscal third quarter, were up 13 percent from a year earlier compared with a mean forecast for a 14 percent increase.

In May and in the fiscal first half of the year, like-for-like sales were up 3 percent, and total sales 12 percent.

Reporting by Anna Ringstrom

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