2Q19 Trading Update H&M’s net sales increased by 11% to SEK 57.5 billion in 2Q19, ended May 31, compared to 10% growth in the previous quarter and slightly ahead of the consensus estimate of SEK 57.2 billion. In local currencies, the company grew net sales by 6% year over year, in line with the consensus estimate of 5.9%. The company said that it has intensified its transformation work as sales and customer satisfaction have increased, implying higher near-term investment. In its 1Q19 results, published March 29, management said H&M’s transformation work had contributed to positive sales development with increased full-price sales, lower markdowns and rising market share in several markets. The company said it plans to increase its investments in physical and digital expansions, technology platforms and product offerings. H&M will publish its full 2Q19 report on June 27, 2019. For FY19, consensus estimates call for revenues of SEK 227 billion, up 7.9% year over year, and EPS of SEK 7.63.