Financial Times FT.com

H&M profits beat expectations

STOCKHOLM, June 25 (Reuters) - Swedish fashion chain Hennes & Mauritz posted second-quarter profits above market expectations on Thursday, but sales in May disappointed.

The world’s third-biggest clothing retailer by sales made a pre-tax profit of SKr5.78bn Swedish crowns ($735.2m) in the quarter ended May 31 versus a mean forecast of SKr5.67bn in a Reuters poll and SKr5.43bn in the same period the prior year.

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