H&M Sales Rise 9% in Q4

The Swedish high-street retailer said same-store sales fell 1 percent in November.

The H&M store in the Central shopping district in Hong Kong.

PARIS Hennes & Mauritz AB said sales including VAT in the fiscal fourth quarter rose to 37.93 billion Swedish kroner, or $5.7 billion, a 9 percent gain in local-currency terms.

The Swedish high-street retailer, which will publish its full-year report on Jan. 30, said sales in comparable units were flat for the period of Sept. 1 to Nov. 30.

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All dollar rates are calculated at average exchange for the corresponding period.

H&M also reported that same-store sales fell 1 percent in November, following a 5 percent decline in October. Revenues in local currencies increased 7 percent, versus a 4 percent rise in the previous month.

The store count stood at 2,776 on Nov. 30, compared with 2,472 stores on Nov. 30, 2011.