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H&M November sales up 4 percent, below forecast

Published 15/12/2015, 07:24
© Reuters. People walk past the window of a H&M store in Paris
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STOCKHOLM (Reuters) - Swedish budget fashion retailer Hennes & Mauritz (ST:HMb) said on Tuesday sales rose 4 percent in November in local currencies from a year earlier, lagging a mean forecast for a 9 percent rise in a Reuters poll of analysts.

The group said in a statement sales were negatively affected by unseasonably mild weather in North America and many of its large markets across Europe.

Net sales in September through November, H&M's fiscal fourth quarter, totalled 48.7 billion Swedish crowns (£3.8 billion), up from a year-ago 42.6 billion but below the mean forecast of 49.6 billion.

© Reuters. People walk past the window of a H&M store in Paris

H&M is due to publish its full fiscal fourth-quarter earnings report on Jan. 28.

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