H&M sales grow but miss forecasts

The fast fashion brand recently released its hotly anticipated collaboration with Balmain

H&M sales grow but miss forecasts

Singer Katy Perry models for the brand / H&M / Facebook

High street Swedish retailer, Hennes & Mauritz (H&M) experienced sale increases of 4% in local currencies compared to the corresponding month last year.

This was well off of the 9% rise that analysts polled by Reuters had expected.

In a statement H&M said that unseasonably mild weather in North America and many regions across Europe led to less people updating their wardrobes during the month.

Net sales during the company's fiscal fourth quarter between September and November totalled 48.7bn Swedish crowns (€5.2bn) - up from 42.6bn last year - but again short of the forecast 49.6bn.

This was a 14% yearly increase - down from a 18% year-on-year bump during the company's third quarter. 

Queues formed outside of H&M stores around the world as its limited-edition Balmain x H&M collection launched during the month.

In Singapore shoppers queued for three days to get their hands on garments from the line.