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H&M Hennes & Mauritz sales drop

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H&M Hennes & Mauritz, which is the world’s second-biggest clothing retailer, has published its third-quarter sales that missed analysts’ estimates. The unexpected drop in like-for-like sales in August is said to have been caused by a warm weather in key European markets which had kept customers away from H&M stores. According to compiled data, sales at H&M stores open a year or more dropped by 4 percent in local currencies in August, below the expectation of a growth of 1 percent.

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