H&M May comparable sales flat, roughly matching expectations
STOCKHOLM, June 12
STOCKHOLM, June 12 (Reuters) - Swedish budget fashion retailer Hennes & Mauritz said on Wednesday its sales in stores open at least a year were flat in May, marginally undershooting expectations.
The mean forecast in a Reuters poll of analysts had been for a 1 percent rise in local currencies.
Total sales in the month - the last month of H&M's fiscal second quarter - were up 9 percent in local currencies, below a forecast 11 percent.
Net quarterly sales totalled 31.6 billion crowns ($4.8 billion), against a forecast 32.2 billion. ($1 = 6.5872 Swedish crowns) (Reporting by Stockholm Newsroom)