H&M December sales stronger than expected

[STOCKHOLM] Hennes & Mauritz, the world's second-biggest fashion retailer, posted forecast-beating sales in December, extending what has been a strong run for the Swedish company, into a new fiscal year.

December was the ninth consecutive month that H&M, which is benefiting from a recovering US economy, reached sales clearly or slightly above analysts' expectations in Reuters polls.

The company, which lags Zara owner Inditex in annual sales, said on Thursday its sales rose 15 per cent year on year in December, above a 13 per cent increase expected by analysts.

December is the first month of the company's fiscal first quarter. It will unveil detailed earnings for 2013/2014 on Jan 28.

REUTERS