H&M retail sales up 10% in November

Fashion retail giant Hennes & Mauritz saw November retail sales jump by 10%.

The rise beat analyst expectations as it was against strong comparatives, sales had risen 21% in the same period last year.

Q4 sales increased 11% in local currencies. Total sales for the quarter excluding VAT amounted to SEK42.61 bn ($5.64 bn), up from SEK36.50 bn last year.

The retailer noted that its store count had risen to 3,511 stores by November 30, compared with 3,132 on the same date last year.

Full earnings for the financial year ended Nov. 30 will be published on January 28, next year

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