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H&M sales rise 4 pct in May, miss forecast
June 15, 2017 / 6:04 AM / a month ago

H&M sales rise 4 pct in May, miss forecast

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STOCKHOLM, June 15 (Reuters) - Swedish fashion retailer H&M reported on Thursday a 4 percent year-on-year rise in local currency sales for the month of May, lagging market expectations.

May is the final month of the group's fiscal second quarter and H&M said net quarterly sales reached 51.4 billion Swedish crowns ($5.91 billion) for the period, up from a year-ago 46.9 billion.

The mean forecast in a poll of analysts saw monthly sales rising 6 percent to put quarterly net sales at 51.9 billion Swedish crowns. ($1 = 8.6952 Swedish crowns) (Reporting by Stockholm newsroom)

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