Fashion retailer Hennes & Mauritz has recorded a 10 per cent hike in September sales, falling short of expectations for an increase of between 13 and 30 per cent.

Sales in August increased 15 per cent by comparison.

H&M is the largest fashion retailer in terms of capitalisation, and is presently worth in the region of £12 billion.

It opened its 1,000th store in the third quarter and said it is planning to open another 65 before the end of the financial year.