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H&M Q3 pretax profit falls slightly more than expected
September 30, 2016 / 6:16 AM / a year ago

H&M Q3 pretax profit falls slightly more than expected

STOCKHOLM, Sept 30 (Reuters) - Swedish fashion retailer Hennes & Mauritz reported on Friday a pretax profit fall for the June-August period that was slightly bigger than expected, and said it expected sales in September to be up 1 percent in local currencies from last year.

Dented by currency translation effects and markdowns, pretax profit in H&M’s fiscal third quarter shrank 10 percent to 6.30 billion crowns ($734.6 million) from a year-earlier 6.94 billion, against a mean forecast of an 8 percent fall to 6.38 billion in a Reuters poll of analysts. ($1 = 8.5766 Swedish crowns) (Reporting by Anna Ringstrom)

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