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H&M Third-Quarter Sales Exceed Estimates After Strong August

Hennes & Mauritz AB, Europe’s second-biggest clothing retailer, reported a 16 percent gain in third-quarter sales after August revenue exceeded estimates.

Sales last month rose 19 percent, stated in local currency terms, the Stockholm-based company said today in a statement, sending the shares to a record high. The average estimate in an SME Direkt survey was for expansion of 12.9 percent.