H&M Posts Upbeat Q2 Sales

Hennes & Mauritz AB (OTC: HNNMY) reported a rise in its Q2 sales.

H&M's quarterly sales climbed to 31.66 billion Swedish kronor ($4.52 billion), versus SEK27.63 billion, in the year-ago period. However, analysts were expecting total sales of SEK31.41 billion.

H&M's sales from stores open at least a year surged 3.0% in May. Analysts were expecting a 1.4% decline in sales. Total sales in May gained 12%, beating analysts' estimates of a 7.8% rise.

H&M's shares closed at $6.22 yesterday.

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