H&M April sales number now all but forgotten

H&M Hennes & Mauritz Ab (OMX: HM B) posted a small gain today to close out the week after being raised to Selected list at Cheuvreux from an earlier rating of outperform. They now give the fashion chain a 260 SEK target price. Its share currently stands just below 220. The company has had a little bit of a wobbly couple weeks after April 2012 sales released last week not all too unexpectedly broke the run of sales increases with a 1 percent decline overall and 10% slump in comparable units mainly due to adverse weather and calendar effects. Today the company certainly put on a more positive face and it was even trending worldwide on Twitter minutes earlier for no particular reason.