H&M (OMX: HM-B) 1Q19 Update: Sales Beat; Focus Now on Digital

Executive Summary

• H&M reported 1Q19 net sales of SEK 51.02 billion, up 10.0% year over year, a slightly slower pace compared the 12% growth recorded in 4Q18, but marginally ahead of the consensus estimate of SEK 50.0 billion recorded by StreetAccount.
• Net sales increased by 4% year over year in local currencies versus the 4.2% consensus recorded by StreetAccount.
• H&M will publish its full 1Q19 report on March 29, 2019.