H&M's sales grow 5% in fourth-quarter in local currencies

STOCKHOLM (Reuters) - Sweden's H&M , the world's second-biggest fashion retailer, reported on Monday a slightly smaller rise in fiscal fourth-quarter sales than expected and said the fact Black Friday fell later this year had a negative effect. Net sales in the September-November period rose 9% to 61.7 billion crowns (5 billion pounds) from a year-earlier 56.4 billion. Analysts had on average forecast a 10% rise to 62.0 billion crowns, according to Refinitiv SmartEstimates.In local currencies,..