H&M reports quarterly sales growth in local currencies. The company previously reported monthly sales, and this is the second quarterly sales update. The H&M group stated that sales in 4Q17 were significantly below expectations, declining by 2% in local currencies and by 4% in Swedish krona. Although the H&M brand’s online sales continued to develop well, physical stores were negatively affected by reduced footfall and imbalances in parts of the merchandise assortment composition. Reflecting the weak quarter, the company’s ongoing transformation journey will be accelerated. This will include the continued integration of physical and digital stores, and more store closures and fewer openings in the H&M brand’s store portfolio. The company did not provide a new store growth percentage figure, unlike in previous trading update releases. H&M announced that it will begin selling the H&M and H&M Home brands on Alibaba’s Tmall platform. It is in advanced discussions regarding the launch of other H&M-owned brands on Tmall. H&M will publish FY17 results on January 28, 2018 and will hold a capital markets day in Stockholm on February 14, 2018.