H&M’s June-August sales lag expectations By Reuters

STOCKHOLM (Reuters) – Swedish H&M, the world’s second-biggest fashion retailer, reported on Thursday a smaller increase than expected in June-August net sales.

The fiscal third-quarter net sales were up 3% from a year-earlier at 57.5 billion crowns ($5.36 billion). Analysts polled by Refinitiv had on average forecast a 5% rise to 58.6 billion crowns.

Measured in local currencies, sales were down 4%.

($1 = 10.7226 Swedish crowns)