June 27, 2019 / 6:16 AM / 3 months ago

H&M Q2 profit just lags forecast, summer collections off to strong start

STOCKHOLM, June 27 (Reuters) - Swedish fashion retailer H&M reported on Thursday a slight drop in fiscal second-quarter pretax profit, just undershooting market expectations, and said sales of its summer collections had gotten off to a good start.

Pretax profit in the March through May period was 5.93 billion Swedish crowns ($639.6 million), down from a year-ago 6.01 billion. Analysts had on average forecast a profit of 6.00 billion crowns, according to Refinitiv data.

$1 = 9.2709 Swedish crowns Reporting by Anna Ringstrom; editing by Niklas Pollard

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