September 16, 2013 / 6:11 AM / 4 years ago

H&M comparable sales grow 4 pct in August

STOCKHOLM, Sept 16 (Reuters) - Swedish budget fashion retailer Hennes & Mauritz said on Monday its sales in stores open at least a year rose 4 percent in August, overshooting expectations.

The mean forecast in a Reuters poll of analysts had been for a 3 percent rise in local currencies.

Total sales in August - the final month of H&M’s fiscal third quarter - were up 14 percent in local currencies, above a forecast of 13 percent.

Net quarterly sales, excluding sales tax, totalled 32.0 billion Swedish crowns, slightly above a forecast of 31.8 billion and up from a year-earlier 28.8 billion.

Reporting by Stockholm Newsroom

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