Hennes & Mauritz Sales Surge 21% In November

Hennes & Mauritz HNNMY reported a 21% rise in its November sales. Analysts were projecting total sales to increase 12.9%. Hennes & Mauritz's sales in comparable units rose 10% in November, while sales climbed 13% in local currencies in the fourth quarter. In the fourth quarter, Hennes & Mauritz's sales excluding VAT gained to SEK36.5 billion versus SEK32.5 billion. However, analysts were expecting sales of SEK36.02B. Hennes & Mauritz shares closed at $8.44 on Friday.