H&M's Q2 sales fall slightly more than expected, rise 1% in local currencies
STOCKHOLM (Reuters) - Swedish fashion retailer H&M reported on Thursday a slightly bigger drop than expected in second-quarter sales and said it expected sales in June, measured in local currencies, to rise 3%.
Sales in the March-May period were 56.7 billion crowns ($5.99 billion), down from 59.6 billion a year ago. Analysts polled by LSEG had on average forecast a turnover of 57.0 billion crowns. Measured in local currencies sales were, however, up 1%.
Operating profit at the world's second-largest listed fashion retailer fell to 5.91 billion crowns from 7.10 billion, against a forecast of 5.88 billion.
($1 = 9.4635 Swedish crowns)
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