H&M December Comparable Sales Drop 2%

Hennes & Mauritz AB HNNMY reported a 2% drop in its sales at stores open for at least a year in December. Analysts were expecting same-store sales to decline 2.6%. Its total sales climbed 8% y/y in December. However, analysts were expecting a 5.9% rise in total sales. Hennes & Mauritz shares gained 0.59% to close at $6.79 yesterday.