1Q19 Trading Update Swedish clothing company H&M grew net sales by 10% to SEK 51.02 billion in 1Q19, ended February 28, with sales growing at slightly slower pace compared to the 12% growth recorded in the prior quarter, but coming in ahead of the consensus estimate of SEK 50.0 billion recorded by StreetAccount. Net sales increased by 4% year over year in local currencies, slightly below the 4.2% consensus recorded by StreetAccount. In its FY18 results, published January 31, the company guided that its transformation was on track, and capital expenditure will be lower in 2019 than in 2018; it plans to increase its investments in digital. H&M will publish its full 1Q19 report on March 29, 2019. For FY19, consensus estimates recorded by StreetAccount predict H&M will report revenues of SEK 221.2 billion, up 5.1% year over year, and EPS of SEK 7.54.