Hennes & Mauritz May Sales Rise

Swedish retailer HENNES & MAURITZ AB HNNMY reported a rise in its sales in May. The retailer's sales climbed 10 percent in local currencies in the month, versus a 19 percent growth in May 2014. Including VAT, sales surged 20 percent to SEK53.23 billion in the second quarter, from SEK44.18 billion. In local currencies, the retailer's sales including VAT, in the second quarter jumped 10 percent. Its sales, excluding VAT, jumped to SEK45.87 billion ($5.58 billion) from SEK37.83 billion. On May 31, 2015, H&M had 3,639 stores, compared to 3,285 on 31 May 2014. Hennes & Mauritz shares fell 1.66 percent to close at $8.00 on Friday.