H&M Lifts 2017 Growth Forecast
The retailer posts full-year sales in line with expectations.
H&M (HNNMY) shares increased in Stockholm on Tuesday after the fashion retailer lifted its 2017 growth target after posting full-year sales that were largely in line with analysts' expectations.
The company says it plans to increase sales by 10% to 15%, in local currency terms, this year. The Stockholm-based group also said it aims to launch one or two new brands in 2017.
CEO Karl-Johan Persson said, "For fashion retail in general, 2016 was ... a challenging year in which various external factors -- including geopolitical events -- had a negative impact on retail trade in many markets."
