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H&M local-currency sales up nine percent in November, below expectations

Reuters
The logo of Swedish fashion retail group H&M is seen at a building in Dietlikon, Switzerland October 11, 2016. REUTERS/Arnd Wiegmann

STOCKHOLM (Reuters) - Budget fashion retailer Hennes & Mauritz (HMb.ST) said on Thursday local-currency turnover in November was up 9 percent from a year earlier, below a mean forecast in a Reuters poll of analysts for a 15 percent rise.

Net sales in September through November, H&M's fiscal fourth quarter, totalled 52.7 billion Swedish crowns (4.54 billion pounds), up from a year-ago 48.7 billion but below a forecast 53.5 billion.

H&M did not comment on the sales figures.

(Reporting by Anna Ringstrom, editing by Terje Solsvik)