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Actionable news in GPS: THE GAP Inc,

Disappointing Sales for H&M Could Mean Only One Thing for Beleaguered Gap

Bad news for H&M in April in Europe, its largest market, likely means that struggling Gap (GPS) ended the first quarter on a low note on the continent, too.

Fast-fashion retailer H&M said Monday that sales rose 5% in April on a local currency basis, falling shy of the 7.9% increase expected by Wall Street. "The cold spring which continued into April in several of H&M's large markets has had an unfavorable impact on sales of transitional garments," H&M said in a statement. Snow fell in Germany last month, the retailer's biggest market at more than 400 stores, and other parts of Europe that caused shoppers to put off purchases of items such as t-shirts and shorts. Europe is by far H&M's largest market - it has more than 2,400 stores there.

H&M wasn't the only retailer to be be hurt by poor weather in Europe.

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