H&M (STO: HM-B) Monthly Sales Update: Weak Sales in May

Executive Summary

• H&M reported total sales rose by 4% year over year in local currencies in May 2017. This compares to year-over-year sales growth of 7% in April.
• The total number of stores grew by 10.3% year over year to 4,498, as of May 31.
• Sales growth lagged store growth by 633 basis points in April, expanding from the 388-bps difference in March.