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EARNINGS POLL-H&M Jan sales seen up 8.3 pct yr/yr

Published 02/10/2009, 10:33 AM
Updated 02/10/2009, 10:40 AM
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* H&M Jan. sales

* Due at 0700 GMT on Feb. 16

* Like-for-like sales seen -2.7 percent yr/yr

STOCKHOLM, Feb 10 (Reuters) - Swedish fashion giant Hennes & Mauritz is expected to post an 8.3 percent year-on-year rise in total January sales, the average of a Reuters poll showed on Tuesday.

Estimates in the poll of 12 analysts ranged from an 8-9 percent rise, with a median forecast for an 8 percent rise. In its report for the fourth quarter on January 29, Hennes & Mauritz said it expected January sales to increase by 8 percent.

Sales in stores open for more than a year were seen down 2.7 percent, according to the average forecast, with a range between minus 4 percent and minus 1 percent.

Germany -- H&M's largest market -- saw January apparel sales fall 1 percent, according to industry journal Textilwirtschaft. In Sweden, H&M's third biggest market, the HUI/Stil index for clothing sales was down 1.4 percent.

In December, H&M total sales rose 3 percent from the previous year while like-for-like sales fell 7 percent.

H&M is due to publish the January figures at 0700 GMT on Feb. 16. It does not release absolute sales figures, only the percentage change in local currencies. Figures are in whole numbers.

Analysts from ABG Sundal Collier, Carnegie, Cheuvreux, Deutsche Bank, Evli Bank, Handelsbanken Capital Markets, HQ Bank, Kaupthing, Morgan Stanley, Nordea, SEB Enskilda, and Ohman Fondkommission took part in the poll.

(Reporting by Sven Nordenstam; editing by Elaine Hardcastle)

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