STOCKHOLM (dpa-AFX) - Swedish retailer Hennes & Mauritz AB or H&M Group (HNNMY.PK, HMRZF.PK, HEN.L) reported Monday that its third-quarter net sales increased 12 percent to 62.57 billion Swedish kronor from last year's 55.82 billion kronor.
In local currencies, net sales during the period from June 1 to August 31 increased by 8 percent.
The company said in a statement, 'Well-received summer collections and increased market share confirm that the H&M group is on the right track with its transformation work to meet the customers' ever-increasing expectations.'
H&M noted that activity levels related to the transformation work have remained high in the third quarter.
In Stockholm, H&M shares were trading at 186.52 kronor, down 2 percent.
Copyright RTT News/dpa-AFX
© 2019 AFX News
