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H&M: Q4 sales up 10%

( - Swedish clothing giant Hennes & Mauritz has reported a 10% rise in Q4 sales to 62.
45 billion Swedish kronor on Thursday, pretty much in line with market expectations.

In local currency, the retailer's sales were flat over the period, which came as a disappointment after a 7% rise in September.

The world's second-largest clothing chain said that FY sales to 30 November rose 12% in local currencies to 223.57 billion Swedish kronor, up 6% in local currencies.

Yesterday, its Spanish rival Inditex reported a 20% rise in sales at constant exchange rates for the first nine months of its financial year (February to October).

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