By Dominic Chopping

STOCKHOLM--Swedish fashion retailer Hennes & Mauritz AB reported results for its fiscal fourth quarter on Friday. Here's what we watched:

SALES: The company confirmed pre-released fourth-quarter sales figures, reporting a 15% fall in sales on year to 52.55 billion Swedish kronor ($6.29 billion). Online sales increased by 50% in local currencies in the quarter. H&M's fourth quarter ended Nov. 30.

NET PROFIT: H&M posted a net profit of SEK2.49 billion, compared with SEK4.21 billion a year earlier. Analysts polled by FactSet had expected a profit of SEK2.61 billion.

WHAT WE WATCHED:

CURRENT TRADING: The company said that a strong recovery at the start of its fiscal fourth quarter was significantly slowed when the second wave of the pandemic again led to extensive new restrictions and lockdowns. The fashion retailer said 1,800 of its stores are currently closed, representing 36% of its total, but noted shoppers continued to move online in increasing numbers. Net sales between Dec. 1 and Jan. 27 decreased by 23% on the year in local currencies.

DIVIDEND: H&M said its financial position remains strong and there are good prospects of a cash dividend in autumn 2021. However, since it isn't currently possible to get a full overview of the consequences of the continuing pandemic, the board will come back with a proposed date and level for resuming the dividend during the year, it said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

01-29-21 0912ET