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H&M sales rise 9% YOY in Q4'19

H & M Hennes & Mauritz AB on Dec. 16 reported that fiscal fourth-quarter net sales rose 9% to 61.70 billion Swedish kronor from 56.41 billion kronor a year earlier.

In local currencies, sales increased by 5% year over year between Sept. 1 and Nov. 30.

The Swedish fast-fashion retailer said some of its Black Friday online sales will not be recognized until December as the Nov. 29 shopping bonanza came a week later than in 2018.

Inclusive of the approximately 500 million kronor in sales from Black Friday, net sales for the fourth quarter rose 10% year over year, or 6% in local currencies.

H&M also reported that net sales for fiscal 2019 grew 11% year over year to 232.76 billion kronor from 210.40 billion kronor. Sales increased by 6% in local currencies from 2018.

In mid-morning trading in Stockholm, shares of H&M were up 3.38 kronor, or 1.7%, at 194 kronor.

As of Dec. 13, US$1 was equivalent to 9.40 Swedish kronor.