STOCKHOLM, Dec 15 (Reuters) - Swedish fashion retailer Hennes & Mauritz undershot expectations with a 9 percent fall in same-store sales in November but said on Tuesday December had started strongly.
H&M said total sales in local currencies rose 1 percent year-on-year in November.
'Sales in December had a satisfactory start with an increase of approximately 11 percent during the first two weeks compared to the same period previous year,' it said.
H&M sales have disappointed for several months in a row, but there are signs from other European retailers showing shoppers returning to stores.
Inditex, Europe's biggest clothing retailer and owner of the Zara chain, said earlier this month its sales had picked up heading into the key Christmas period, though it too has seen like-for-like sales squeezed by the global downturn.
H&M's November sales figures compared with an average forecast of a fall of 5.5 percent at stores operating for more than a year and a 4.7 percent increase in total sales.
(Reporting by Nick Vinocur; Editing by Dan Lalor) Keywords: H&M/ (Stockholm Newsroom, tel: +46-8-700 1017, e-mail: stockholm.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
H&M said total sales in local currencies rose 1 percent year-on-year in November.
'Sales in December had a satisfactory start with an increase of approximately 11 percent during the first two weeks compared to the same period previous year,' it said.
H&M sales have disappointed for several months in a row, but there are signs from other European retailers showing shoppers returning to stores.
Inditex, Europe's biggest clothing retailer and owner of the Zara chain, said earlier this month its sales had picked up heading into the key Christmas period, though it too has seen like-for-like sales squeezed by the global downturn.
H&M's November sales figures compared with an average forecast of a fall of 5.5 percent at stores operating for more than a year and a 4.7 percent increase in total sales.
(Reporting by Nick Vinocur; Editing by Dan Lalor) Keywords: H&M/ (Stockholm Newsroom, tel: +46-8-700 1017, e-mail: stockholm.newsroom@reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
