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H&M Q1'19 sales grow 10%, beating expectations

Swedish fast-fashion giant H & M Hennes & Mauritz AB (publ) said March 15 its fiscal first-quarter 2019 sales increased 10% to 51.02 billion Swedish kronor.

The company's first quarter runs Dec. 1, 2018, through Feb. 28. The S&P Global Market Intelligence consensus estimate for the quarter's sales was 50.18 billion Swedish kronor.

H&M said its first-quarter sales rose 4% in local currencies. The company said it will release its full first-quarter earnings March 29.

H&M's shares shed 4.92% to close March 15 at 136 Swedish kronor.

The company reported EPS for the fiscal fourth quarter of 2018 that missed analysts' expectations Jan. 31.

As of March 14, US$1 was equivalent to 9.32 Swedish kronor.