June 12, 2013 / 6:11 AM / in 4 years

H&M May comparable sales flat, roughly matching expectations

1 Min Read

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)

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