H&M First Quarter Sales Weaker Than Expected

Swedish fast-fashion retailer H&M reported weaker than expected sales for its first quarter on Thursday and said sales were up 1 percent so far in March, in a sign of a slow start to its spring and summer season.

H&M reported sales of SEK55.3 billion ($5.52 billion) for the December to February quarter, missing analysts’ mean estimate of SEK55.9 billion.

“Our sales and earnings in the quarter were somewhat weaker than planned – but the first quarter is the smallest quarter of the year…