Sales surge at H&M

Fashion retailer H&M revealed that sales increased 11 per cent in November, compared with the same period last year.

The high street chain has more than 1,300 stores in 24 countries and has opened 152 outlets in the past year.

The retailer has also expanded into the Japanese market, with the opening of its first store in Tokyo. H&M said it is negotiating for other sites in the city.

Chief executive Rolf Eriksen said: 'Japan is an exciting market for H&M, with fashion-conscious consumers with great spending power. With a population of 128 million, of which almost 13 million live in Tokyo, we see great opportunities for expansion in this part of the world.'

The company's full year results will be published on January 25.