H&M Posts Rise In FQ4 Total Sales

Hennes & Mauritz AB HNNMY reported a rise in its total sales in the fiscal fourth quarter. Hennes & Mauritz's quarterly sales, excluding value-added tax, climbed 5% to 32.5 billion Swedish kronor ($4.87 billion), versus SEK30.95 billion, in the year-ago period. However, analysts were expecting total sales of SEK32.62 billion. In the fiscal third quarter, Hennes & Mauritz's sales excluding VAT surged 7% to SEK28.81 billion versus SEK26.91 billion. Its total sales in the quarter, including VAT, rose 9% in local currencies. Its sales from stores open at least a year dropped 1% in November, while total sales rose 7%. Hennes & Mauritz shares closed at $6.43 on Friday.