H&M’s Q4 local-currency sales fall slightly more than expected By Reuters

© Reuters. FILE PHOTO: The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar/File Photo

STOCKHOLM (Reuters) -Swedish fashion retailer H&M (ST:) reported on Friday a slightly bigger-than-expected 4% drop in September-November sales measured in local currencies.

Analysts polled by Reuters had on average forecast a 3% fall year on year.

The decline is the biggest since the third quarter of 2022 when it was also 4%.

Net sales were unchanged at 62.6 billion crowns ($6.10 billion) against a mean forecast of 63.2 billion.

H&M, the world’s second-biggest listed fashion retailer after Inditex (BME:), is due to publish its full quarterly earnings report on Jan. 31.

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