STOCKHOLM (Reuters) - hot time in the major European markets and the Easter holidays contributed to Hennes & Mauritz AB Swedish budget fashion chain posting its biggest rise sales in eight months in April.
The Group posted an increase of 11% year on year sales at established stores in local currencies, beating an average forecast in a survey Reuters 9 per cent.
April was traditionally more easily to the retail days this year than last, while warmer weather in many European centres encouraged shoppers more hitting stores and renew their wardrobe for spring.
No. 2 global clothing retailer said total sales, which include stores opened last year, soared by 21%, average of analysts forecast for 17 per cent in mind. It is the largest rising turnover since August when total sales increased by 24% last year.
U.S. retailers have warned of increased costs and consumers cautious, even though the end of Easter stimulated the sale of clothing and other items related to the Festival in April, several aid also beat expectations sales.
European retailers are also cautious, with consumer confidence still fragile Government austerity measures and persistent unemployment.
H & M, second largest clothing retailer of the world by sales after Spanish rival Inditex, owner of the Zara brand, does not release the figures in absolute sales on a monthly basis and do not comment on growth data.
(Reported by Mia Shanley and Niklas Pollard;) (Editing by David Holmes)
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