H&M comparable sales down

H&M last week reported an increase in sales for November, reflecting an increase in new stores, but sales slipped in comparable units.

H&M group's total sales in November increased 9 percent in local currencies from the previous year.

The retailer's sales increase comes at a time when the retail environment continues to be challenging in Europe with sovereign debt concerns dampening economic outlook.

However, in comparable units, comprising the stores and the internet as well as catalogue sales countries that have been in operation for at least one year, Hennes & Mauritz' sales slipped 1 percent.

In October, total sales including VAT had improved 8 percent in local currencies, while sales dropped 2 percent in comparable units.

In the fourth quarter that ended on November 30, sales including VAT increased 6 percent in local currencies compared to last year. Sales in comparable units decreased 3 percent.