STOCKHOLM, June 25 (Reuters) – Swedish fashion retailer H&M reported on Thursday a smaller-than-expected March-May operating profit, and said it expected sales in June to be unchanged year-on-year in local currencies.
Operating profit in H&M’s fiscal second quarter was roughly unchanged year on year at 5.91 billion crowns ($606.5 million), after rising three quarters in a row, against a mean forecast in an LSEG poll of analysts of 6.38 billion. Sales the period were roughly flat measured in local currencies.
($1 = 9.7448 Swedish crowns)
Reporting by Greta Rosen Fondahn in Stockholm and Helen Reid in London, editing by Anna Ringstrom.
