By Dominic ChoppingSTOCKHOLM--Sweden's H&M Hennes & Mauritz on Thursday reported fiscal second-quarter sales that were slightly below expectations. The fashion retailer said sales for the quarter ended May 31 increased by 6% on year to 57.62 billion Swedish kronor ($5.38 billion), while net sales in local currencies were "flattish". Analysts polled by FactSet had expected quarterly sales at SEK58.3 billion. Sweden's Hennes & Mauritz reported fiscal second-quarter sales that were just shy of expectations as cold weather dented demand, but noted a good start to June, sending shares nearly 7% higher in early trade. At 0957 GMT H&M shares were trading 4.3% higher at SEK151.90, while ASOS shares were up 14% at 375.2 pence.

Source: Wall Street Journal June 15, 2023 18:14 UTC