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Trini Blay
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TODAY'S TOP NEWS STORY: H&M sees double digit sales gains in February, Q1

But last month’s revenues fall short of analysts’ expectations

Swedish fashion retail giant Hennes & Mauritz said Monday total currency neutral sales in February, including VAT, increased 11% year-on-year. However, analysts had expected a 13.8% rise.

For Q1 (December 1-February 28), sales jumped 13% to SEK37.52bn. Excluding VAT, sales for the quarter increased to SEK32.14bn from SEK28.39bn a year ago.

H&M’s store count increased 13.3% on-year at the end of February to 3,192 units.

Its shares closed Friday at SEK281.20, valuing the company at SEK465.4bn.

Sales for March will be published on April 15.
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