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Sales up 4% at H&M in August

H&M has reported a 4% increase in like-for-like sales for August.

In local currencies the fast fashion giant surged ahead, as total sales including VAT increased by 14% compared to the same month the previous year. 

This follows a 1% drop in revenue in July and a 3% increase in sales in June, which was the first improvement in figures for H&M this year.

In total group sales for the third quarter to August 31 increased by 2% to SEK37,411m (£3.6m). Sales in local currencies increased by 12% compared to 2012.

H&M reported no growth in like-for-like sales during May and just a 1% rise in April. The previous three months delivered declines in like-for-like sales.

It has continued to increase its retail footprint with 335 new store openings in the last year taking its total stores to 2,964.

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