H&M (OMX: HM-B) 2Q19 Update: Sales Beat Estimates; Transformation Work Intensifies

Key Points

• H&M reported 2Q19 net sales of SEK 57.5 billion, up 11% year over year, a faster pace than the 10% recorded in 1Q19 and with revenues slightly ahead of the consensus estimate of SEK 57.2 billion recorded by StreetAccount.
• In local currencies, net sales increased by 6% year over year versus the 5.9% consensus estimate.
• H&M will publish its full 2Q19 report on June 27, 2019.