Insight Report 2 minutes PremiumH&M (STO: HM-B) 2Q16 Results: Sales Growth Slows Coresight Research June 22, 2016 Executive Summary Excluding the effects of local currencies against the Swedish krona, H&M’s 2Q16 sales in the UK were flat, compared with an increase of 5% for all of H&M’s markets. The UK is H&M’s third-largest market after Germany and the US. Sales in March and April were significantly below the company’s plan, as they were negatively affected by unseasonably cool weather during the period. Sales improved in May, increasing by 9%. H&M’s profit in 2Q16 fell by 17%, to SEK5.36 billion from SEK6.45 billion in the same period last year, versus expectations of SEK5.46 billion. Profit was affected by the continued negative impact of the US dollar, but also by increased markdowns and costs related to long-term investments, as well as by lower sales. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: US CPG—Retail 2024 Sector Outlook: Volume Growth To Turn Positive as Inflation EasesAmazon Prime Day 2024: Preview—Five Key InsightsData Dive: When Will US Grocery Unit Growth Turn Positive?Earnings Insights 2Q23, Week 4: JD.com, Ross Stores, TJX and Walmart Report Strong Results; Home Depot and Target See Sales Decline