Fashion retailer Hennes & Mauritz AB (HM-B.SK) Thursday missed forecasts by posting a 8% drop in September comparable sales as it continued to suffer from consumers reining in spending during the economic slowdown.

Sales were also hit by unusually warm weather last month in most of H&M's markets, the company said, adding that sales were satisfactory where weather conditions were more normal.

H&M, the world's third-largest clothing retailer by revenue behind U.S.-based Gap Inc. (GPS) and Spain's Inditex SA (ITX.MC), said same-store sales fell 8% in September from a year earlier, missing analysts' forecasts for a 7% sales drop in stores open more than one year.

Total sales, including stores which have opened over the last year, rose 1%, against expectations for a 4.3% increase.

Including the September figures, the Stockholm-based retailer's comparable sales have declined in 13 of the 14 past months with April 2009 being the only exception.

The company had 1,869 stores at the end of September, up 13%from 1,659 stores a year earlier.

H&M is generally seen as outperforming many of its peers during the downturn due to its winning cheap-and-chic clothing business concept. The company has repeatedly said that it is winning market share and that the downturn has made it easier for it to secure attractive store locations.

Shares in H&M closed Wednesday at SEK408. The shares have gained 40% over the past 12 months, against a 35% gain in the wider market in Stockholm.

Company Web site: http://www.hm.com

-By Gustav Sandstrom, Dow Jones Newswires; +46-8-5451-3099; gustav.sandstrom@dowjones.com