H&M sees sales rise by 10%

Stockholm: Hennes & Mauritz (H&M), Europe’s second-largest clothing retailer, said same-store sales excluding currency moves rose 10% in July, the fastest pace in more than two years.

Total revenue excluding currency moves rose 21% from a year earlier as the retailer increased its stores by 13% to 2,066, the Stockholm-based company said.

Same-store sales have gained during five of the eight first months of H&M’s fiscal year, which runs to November.