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H&M sales unexpectedly shrink in fourth quarter

Mania retailer H&M said on Friday fewer visitors to its core brand stores weighed on volume in its fiscal fourth quarter as it reported an unexpected year-on-year drop for the aeon.

Sales in the September-November period shrank 4 percent, or 2 percent in local currencies, to 50.4 billion circlets ($5.97 billion), lagging a mean Reuters poll forecast for a 2 percent boost waxing, or 5 percent in local currencies.

In the previous quarter, sales growth was negatively assumed by unusually large summer discounts to shift inventories that make been piling up throughout the past two years amid sluggish bid.

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