Hennes & Mauritz Posts Forecast-Beating 10% Rise in First Quarter Sales

Date : 03/15/2019 @ 7:41AM
Source : Dow Jones News

Hennes & Mauritz Posts Forecast-Beating 10% Rise in First Quarter Sales

By Dominic Chopping

 

STOCKHOLM--Swedish fashion retailer Hennes & Mauritz AB (HM-B.SK) said Friday that sales in its fiscal first quarter grew 10% on the year, beating expectations.

Sales in the quarter ended Feb. 28, excluding value-added tax, rose to 51.02 billion Swedish kronor ($5.48 billion). Analysts polled by FactSet had expected SEK49.98 billion.

The retailer said sales in local currencies increased by 4% year-on-year.

The company's complete first-quarter report will be published on Mar. 29, 2019, it said.

 

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping @WSJNordics

 

(END) Dow Jones Newswires

March 15, 2019 03:26 ET (07:26 GMT)

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