Hennes & Mauritz, Europe’s second-biggest retailer, reported monthly sales that beat analysts’ estimates, sending its shares to a record high.
Revenue at stores and operations open at least a year rose 4% in August compared with the same month last year, the Stockholm-based company said today.
Total sales in August climbed 14%, the retailer said, beating estimates for 12.6% growth.
H&M also said sales, excluding value-added tax, amounted to 32 billion kronor ($4.91 billion) in the three months ended August 31, beating expectations.
The company had 2,964 stores at the end of August, up from 2,629 a year earlier. It has said it plans to add a net 350 new stores this year.
H&M is due to report third-quarter earnings later this month.