By Luke Tugby2019-12-16T12:56:00
H&M has posted an uptick in fourth-quarter sales as the group remained on track to deliver an increase in full-year profits for the first time in four years.
The Swedish fashion giant said revenues rose 9% to SEK61.7bn (£4.9bn) during the three months to November 30. In local currencies, sales growth amounted to 5%.
However, the total missed analysts’ expectations of SEK66bn (£5.3bn).
H&M said sales during the quarter were held back by the Black Friday discount frenzy falling later in November than it did in 2018.
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