H&M, the world's second-biggest fashion retailer, has today posted a rise in first-quarter sales that roughly matched expectations and said sales in China fell 24% in the quarter.
Net sales in the December-February period rose 8% to 54.9 billion crowns ($5.65 billion) from 51 billion a year earlier.
Analysts had on average forecast a rise to 55.1 billion crowns, according to Refinitiv data.
Measured in local currencies, sales growth was 5%.
The Swedish group said it was temporarily closing its stores in Poland, Spain, the Czech Republic, Bulgaria, Belgium, France, Austria, Luxembourg, Bosnia-Herzegovina, Slovenia and Kazakhstan, and some stores in Greece due to the coronavirus.
