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H&M reports flat sales in Q1

Swedish fashion house H&M Hennes & Mauritz AB said March 15 that its sales during the first quarter ended Feb. 28 remained unchanged compared to the first quarter of the previous year.

The company's first-quarter sales came in at 53.55 billion kronor. Sales excluding value-added tax came in at approximately 46.2 billion kronor.

The total number of stores during the first quarter was 4,743, up from 4,393 in the same period in 2017.

As of March 15, US$1 was equivalent to 8.17 Swedish kronor.