Swedish retailer Hennes & Mauritz AB or H&M Group (HNNMY.PK,HMRZF.PK,HEN.L) reported Wednesday that its first-quarter net sales increased 12 percent to 54.87 billion Swedish kronor from last year's 49.17 billion kronor.
In local currencies, net sales increased 3 percent. Excluding Russia, Belarus and Ukraine, the increase was 16 percent in Swedish kronot and 7 percent in local currencies.
The company plans to publish its first-quarter results on March 30.
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