H&M beats expectations with 11% sales rise

Swedish budget fashion giant Hennes & Mauritz posted on Monday an 11% year-on-year rise in April sales at established stores in local currencies, beating market expectations

The mean forecast in a Reuters poll had been for 9 percent.

The world No. 2 clothes retailer said total sales, which include stores opened in the past year, rose 21%, topping the analysts' forecast for 17%.

H&M does not release absolute sales figures on a monthly basis and does not comment on the growth data.