H&M Q1 pretax above forecast, March sales strong

STOCKHOLM, April 8 (BestGrowthStock) – Swedish fashion chain Hennes
& Mauritz (HMb.ST: ) posted on Thursday a bigger-than-expected
rise in its fiscal first-quarter pretax profit and said sales
March surged more than 20 percent.

Pretax profit in the company’s first quarter — which runs
from December to February — was 5.1 billion Swedish crowns
($706.9 million), versus a mean forecast of 4.6 billion in a
Reuters poll of analysts and a year-ago result of 3.6 billion.

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H&M Q1 pretax above forecast, March sales strong