H&M sees February sales rise

Sales at world no.2 fashion retailer Hennes & Mauritz’s established stores unexpectedly grew for a third consecutive month in February despite gloom in its biggest market Germany. Turnover at the Swedish firm’s stores open a year or more grew two per cent in local currencies, against an average forecast for a one per cent drop. It said total sales in the month, the last of its financial first quarter, rose 13 per cent, beating an average forecast for an eight per cent rise.