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MessagePosté: Jeu Juil 12, 2018 8:43 am
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Swedish clothing giant Hennes & Mauritz on Friday said sales fell below expectations in the fourth quarter and it would close more stores as customers increasingly prefer to shop online.


H&M CEO Karl-Johan Persson said in a statement that the company's ""online sales and sales of the group's other brands continued to develop well"" but that physical stores ""were negatively affected by a continued challenging market situation with reduced footfall to stores due to the ongoing shift in the industry"".


Sales between September and November dropped by four per cent compared to the same period last year to 50.4 billion kronor (5 million euros Radim Vrbata Jersey , US$5.9 million). In local currencies, sales fell by two per cent.


On Friday morning, the company's share price plunged by 15 per cent in the Stockholm Stock Exchange.


""In order to respond even quicker to customers' fast-changing behaviour the company's ongoing transformation journey is being accelerated,"" Persson said.


""This includes continued integration of the physical and digital stores James Reimer Jersey , and intensifying the optimisation of the H&M brand's store portfolio - leading to more store closures and fewer openings,"" he added.


The group did not specify exactly how many stores would be closed and where.


H&M had announced earlier this year that it would open physical stores around the world to compensate for the downturn due to fierce competition from online sales platforms.


H&M group, which owns other popular brands such as COS, Monki and Weekday Nick Bjugstad Jersey , has 4,553 physical stores around the world as of Aug 31.


Agencies

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BRUSSELS, June 12 (Xinhua) -- The European Union (EU) foreign affairs chief Federica Mogherini on Sunday expressed her condolences following a deadly mass shooting at a nightclub in Orlando, the United States.


Following the terrible news coming from Orlando, "our heart is with all the American people and with the US administration," Mogherini, the High Representative of the EU for Foreign Affairs and Security Policy, wrote on Twitter.


At least 50 people were killed and 53 others wounded early Sunday in the shooting at a popular gay nightclub Pulse in Orlando, Florida. It is the deadliest mass shooting in U.S. history.


U.S. President Barack Obama on Sunday called the mass shooting an "act of terror" and "act of hate." Enditem

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