Hennes & Mauritz sales disappointed investors as the timing of Black Friday weighed on its quarterly figures while the new year has started at a slightly higher pace.

H&M reported weaker-than-expected fourth-quarter sales on Thursday due in part to a late Black Friday, but said sales were up 4% in December and January, indicating a better start to the new fiscal year for the Swedish fast-fashion retailer.

Daniel Erver (pictured), who was appointed as the Swedish retail giant's boss last January, said he is confident the group is 'on the right track'.

Daniel Erver, who was appointed as the Hennes & Mauritz boss last January, said he is confident the group is ‘on the right track’.