Hennes & Mauritz August Sales Surge 19%

Hennes & Mauritz HNNMY reported a 19% rise in its August sales. Hennes & Mauritz's sales jumped 17% in July, while sales rose 12% in June. H&M's sales in the third quarter surged 16% y/y to SEK45.26 billion, compared to SEK37.41 billion, in the year-ago period. Excluding VAT, sales surged to 38.81 billion kroner from 32.04 billion kroner. By the end of August, H&M's total number of stores was 3,341, up from 2,964 in the year-ago period. Hennes & Mauritz shares gained 0.18% to close at $8.40 on Friday.