H&M’s June-August local-currency sales lag expectation

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The world’s second biggest fashion retailer said local-currency sales, the figure most closely watched, in the three months from June to August were “flattish” year-on-year, trailing an average 5% growth forecast in a Reuters poll.

H&M’s net sales were up 6% to 60.89 billion Swedish crowns ($5.45 billion), lagging the 63.5 billion predicted by analysts.

($1 = 11.1635 Swedish crowns)