sales growth continued to disappoint even as Chief Executive Officer 's turnaround strategy for the Swedish fast-fashion retailer helped operating profit and margins beat estimates. Shares tumbled.

Sales -- which edged up 3% in local currencies in the fourth quarter ended November -- rose by less than analysts had projected during the crucial Christmas trading period, showing the new CEO continues to face challenges ahead. Erver, who took the helm a year ago, has focused on everything from boosting marketing efforts to fixing product selection and cutting excess inventories in the face of competition ...