STOCKHOLM (Reuters) – Swedish H&M, the world’s second-biggest fashion retailer, reported on Thursday a smaller increase than expected in June-August net sales.
The fiscal third-quarter net sales were up 3% from a year-earlier at 57.5 billion crowns ($5.36 billion). Analysts polled by Refinitiv had on average forecast a 5% rise to 58.6 billion crowns.
Measured in local currencies, sales were down 4%.
($1 = 10.7226 Swedish crowns)
(Reporting by Marie Mannes and Anna Ringstrom, editing by Stine Jacobsen)
