June 15, 2018 / 6:12 AM / 4 months ago

H&M Q2 local-currency sales unchanged, just below expectations

STOCKHOLM, June 15 (Reuters) - Sweden’s H&M, the world’s second-biggest fashion retailer, reported on Friday slightly lower local-currency sales growth than expected for its fiscal second quarter.

Local-currency sales including VAT in the March-May period were unchanged from a year earlier, against a mean Reuters poll forecast for a 0.5 percent increase.

Reported sales excluding VAT were up 1 percent to 52.0 billion crowns ($5.94 billion), lagging a forecast 3 percent rise to 53.0 billion crowns.

$1 = 8.7495 Swedish crowns Reporting by Anna Ringstrom, Editing by Helena Soderpalm

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