FILE PHOTO: People shop in the newly opened Hennes & Mauritz (H&M) store in Moscow, March 13, 2009. REUTERS/Denis Sinyakov
December 16, 2019
STOCKHOLM (Reuters) – Sweden’s H&M <HMb.ST>, the world’s second-biggest fashion retailer, reported on Monday a slightly smaller rise in fiscal fourth-quarter sales than expected and said the fact Black Friday fell later this year had a negative effect.
Net sales in the September-November period rose 9% to 61.7 billion crowns ($6.41 billion) from a year-earlier 56.4 billion. Analysts had on average forecast a 10% rise to 62.0 billion crowns, according to Refinitiv SmartEstimates.
In local currencies, sales growth was 5%.
(Reporting by Anna Ringstrom, editing by Helena Soderpalm)