By Dominic Chopping


STOCKHOLM--Sweden's Hennes & Mauritz AB on Thursday reported fiscal fourth quarter sales that were above expectations.

The fashion retailer said sales for the quarter ended Nov. 30 increased by 10% on year to 62.45 billion Swedish kronor ($6.14 billion), while net sales in local currencies were flat.

Analysts polled by FactSet had expected quarterly sales at SEK62.05 billion.

H&M said it wound up its operations in Russia and Belarus during the quarter, with remaining stock sold off and the last stores closed on Nov. 30.

Excluding Russia, Belarus and Ukraine, the year-on-year increase in fourth quarter sales was 11% in Swedish kronor and 2% in local currencies, it said.

During the quarter around 25-50 stores in China were temporarily closed due to new coronavirus outbreaks, it added.

The company said figures are provisional and could deviate slightly when full-year earnings are published on Jan. 27.


Write to Dominic Chopping at dominic.chopping@wsj.com


(END) Dow Jones Newswires

12-15-22 0235ET