STOCKHOLM (dpa-AFX) - Shares of Hennes & Mauritz AB or H&M (HNNMY.PK, HMRZF.PK, HEN.L) increased around 2.3 percent in morning trading in Stockholm after the Swedish apparel retailer reported Monday strong growth in sales for the month of August as well as for its third quarter.
Total sales for the month including value added tax or VAT, increased 19 percent year-over-year in local currencies, while last year's growth was 14 percent. In the preceding month of July, sales climbed 17 percent, while sales went up 12 percent in June.
For the third quarter- from June 1 to August 31, sales including VAT increased 16 percent in local currencies. Total sales amounted to 45.26 billion Swedish kroner, up from 37.41 billion kroner a year earlier. Excluding VAT, the apparel retailer reported third-quarter sales of 38.81 billion kroner, a rise from 32.04 billion kroner a year ago.
As of August 31, the company's the total number of stores were 3,341, higher than the prior year's 2,964 stores.
The company will publish the nine-month report, covering December 1, 2013 to August 31, 2014, on September 25.
In Stockholm, Hennes & Mauritz shares were gaining 7 kroner or 2.31 percent, and trading at 309.70 kroner.
Copyright RTT News/dpa-AFX