H&M enjoyed a spike in sales during December, but its performance during the crucial Christmas period fell below analysts’ expectations.

H&M enjoyed a spike in sales during December but its performance during the crucial Christmas period fell below analysts’ expectations.

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H&M sales grew 6%, below the 8% expected by analysts

In a brief update today, the Swedish fashion giant said sales including VAT climbed 6% in local currencies compared to December 2015.

Analysts had predicted a jump of around 8%.

Converted into Skr, revenues rose 10% year-on-year. It marked the fast-fashion chain’s slowest rate of monthly growth since September.

H&M said the sales growth was driven by new store openings.

The group had 4,379 stores at December 31 2016, compared with 3,957 the previous year.

H&M, which is rolling out its homewares proposition in the UK and eyeing a move into standalone menswear stores, will unveil its full-year results on January 31.

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