H&M's November sales beat expectationsMonday 16 December 2013 12.03
Hennes & Mauritz said its November sales beat estimates after a fashion line designed by Isabel Marant boosted revenue at Europe's second-biggest clothing retailer.
Sales at stores and operations open at least a year rose 10% from a year earlier, the Stockholm-based company said today, topping the 4% gain anticipated in a survey of analysts.
The growth was the strongest in 20 months.
Shoppers queued overnight outside H&M stores to get first pick of clothes designed by French fashion house Isabel Marant, which went on sale in around 250 outlets and online November 14.
The company said that total sales advanced 21% last month, compared with an estimated 14% increase in the SME survey.
An extra Saturday in the month boosted growth by about 3 percentage points, while favourable weather also provided a boost, H&M said.
The company had 3,132 stores at the end of November, up from 2,776 a year ago.