Hennes & Mauritz AB said it was abandoning its target of opening 10% to 15% more physical stores each year—a blistering pace that turned it into one of the world’s largest clothing retailers—and instead targeting local-market sales growth both online and off.
said the shifts, disclosed Tuesday along with another strong quarter of
earnings and sales growth, will better capture both physical and online
sales growth around the world. The changes also come as H&M
struggled in the last quarter of the year in some of its traditionally
strong markets, including the U.S., Europe and China.. . . more