Hennes & Mauritz has joined the ranks of the squeezed middle.
growth excluding currency movements slowed to just 1 percent in
September, the lowest rate of expansion for more than a year, the
company said Friday. The fast-fashion chain warned that it may need to
continue cutting prices for the remainder of 2016, after a poor start to
the crucial autumn season.
malaise marks a change of fortune for the Swedish retailer, which once
stood out by offering the latest styles at rock-bottom prices around the
globe. Now, its cachet is starting to fade.. . . more