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H&M Sales Up 12% in Q1

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Hennes & Mauritz AB (H&M) said its sales including value added tax (VAT) were up 12 percent in the first quarter to 37.5 billion Swedish kronor or $5.88 billion.

The Swedish retailer released its sales development for February and for the first quarter (December 1, 2013 to February 28, 2014) Monday, reporting that total sales including VAT for February increased by 11 percent in local currencies compared to the same month last year.

At the end of February, H&M’s store count totaled 3,192 compared to 2,818 at the same time last year.

H&M will publish sales results for March on April 15.

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