H&M sales rise 11 pct in Feb, below forecasts
STOCKHOLM, March 17
STOCKHOLM, March 17 (Reuters) - Swedish budget fashion retailer Hennes & Mauritz said on Monday its sales rose 11 percent in February, below a median forecast of 14 percent in a Reuters poll of analysts.
Net quarterly sales in H&M's fiscal first quarter, excluding sales tax, totalled 32.1 billion Swedish crowns ($5.03 billion), roughly in line with a forecast of 32.2 billion and compared with a year-earlier 28.4 billion. ($1 = 6.3803 Swedish Crowns) (Reporting by Sven Nordenstam)