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H&M (STO: HM-B) 2Q18 Sales Update: Growing Store Numbers Fail to Push Sales Higher

Executive Summary

  • H&M reported that total sales growth for 2Q18 was flat in constant-currency terms.
  • Sales excluding VAT grew by 1.2% in reporting currency. Including VAT, sales rose by 2.0% in the quarter.
  • The total number of stores increased by 6.7% year over year to 4,801, as of May 31, 2018.

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