2Q19 Trading Update H&M’s net sales increased by 12% to SEK 62.6 billion in 3Q19, ended August 31, compared to 11% growth in the previous quarter and slightly ahead of the consensus estimate of SEK 62 billion. In local currencies, the company grew net sales by 8% year over year, in line with the consensus estimate. The company said that well-received summer collections and increased market share re-emphasizes the positive contributions of its ongoing transformation work. Management added that in 3Q19, activity levels related to transformation work remained high. In its 2Q19 results, the company confirmed that it has accelerated its transformation work to adapt to customers’ changing shopping patterns. H&M will publish its full 3Q19 report on October 3, 2019. For FY19, consensus estimates call for revenues of SEK 231 billion, up 9% year over year, and EPS of SEK 7.76.