H&M's quarterly sales surge as pandemic restrictions ease

STOCKHOLM: Quarterly turnover at H&M, the world's second-biggest fashion retailer, jumped from a year earlier as pandemic restrictions were eased, although revenue remained well below 2019 levels.

The Swedish group said on Tuesday net sales grew 62% in the period - its fiscal second quarter - from a year earlier, or 75% measured in local currencies, to 46.5 billion crowns ($5.59 billion). Analysts polled by Refinitiv had on average forecast net sales growth of 66%.