H&M's sales grow 5% in fourth-quarter in local currencies

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STOCKHOLM (Reuters) – Sweden’s H&M (ST:), the world’s second-biggest fashion retailer, reported on Monday a slightly smaller rise in fiscal fourth-quarter sales than expected and said the fact Black Friday fell later this year had a negative effect.

Net sales in the September-November period rose 9% to 61.7 billion crowns ($6.41 billion) from a year-earlier 56.4 billion. Analysts had on average forecast a 10% rise to 62.0 billion crowns, according to Refinitiv SmartEstimates.

In local currencies, sales growth was 5%.

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