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H&M April sales rise 5 percent, below consensus forecast

Reuters

STOCKHOLM (Reuters) - Swedish budget fashion retailer Hennes & Mauritz (HMb.ST) on Monday reported a 5 percent increase in April sales in local currencies from a year earlier, below the 9 percent expected by analysts polled by Reuters.

H&M said cold spring in several of H&M's large markets had an unfavourable impact on sales.

Analysts' estimates for April, the second month of H&M's fiscal second quarter, ranged from growth of 2 to 14 percent.

H&M earlier said March sales, which grew by an unusually low 2 percent, were affected by chilly spring weather in some markets and an early Easter.

(Reporting by Helena Soderpalm; editing by Jason Neely)