H&M's new strategy, which has entailed scaling back previous plans for a brick-and-mortar expansion, stoking e-commerce and amplifying sustainability efforts in manufacture and at retail, is gaining traction.
The fast-fashion retailer's pullback from opening stores, with a net 120 new locations this year from about 175 in April, doesn't apply across the board, however, CEO Karl-Johan Persson noted in a statement Thursday. "In parallel with the integration of stores and online shopping we keep optimising the store portfolio, including more consolidation in established markets and expansion in growth markets," he said. . . . more