STOCKHOLM - Swedish fashion ‌retailer H&M reported on Thursday a ​bigger rise than expected in December-February operating ​profit, and ​said it expected sales in March to be up ⁠1% in local currencies.

Operating profit in H&M's fiscal first quarter, which includes the ​key ‌Christmas shopping ⁠period, ⁠rose for a third consecutive quarter to ​1.51 billion ‌Swedish crowns ($161.6 million) from ⁠a year-earlier 1.20 billion and a mean forecast in an LSEG poll of analysts of 1.39 billion, on an organic sales decrease of 1%.

The rival to ‌Inditex in January said that local-currency ⁠sales in the ​first two months of the quarter were down 2%.

(Reporting by Greta ⁠Rosen Fondahn, ​editing by Anna Ringstrom)