H&M: Q2 Net Sales Rise 12% Y/Y

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H&M: Q2 Net Sales Rise 12% Y/Y
Credit: © Reuters.

By Scott Kanowsky

Investing.com -- H & M Hennes & Mauritz AB B (ST: HMb ) has said it expects to post a better-than-expected increase in second quarter net sales.

The Swedish company said net sales in local currencies jumped by 12% year-on-year during the March-May period, up to SEK 54.50B. Analysts had expected sales to come in at SEK 52.8B, according to a Refinitiv forecast cited by Reuters.

H&M will report its full quarterly results on June 29th.

Stockholm-listed shares in H&M were lower in early trading on Wednesday.

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