![]() "They have failed in describing their vision for the e-commerce business and how they plan to compete with truly digital companies," Bornold said. The company will publish its full-year earnings report on January 31. H&M, which also owns the brands COS, Monki, Weekday, Cheap Monday, Arket and H&M Home, said in December it would be closing stores, but didn't specify how many or where. Not only have H&M sales almost never declined, but the drop was bigger than analysts had expected. In December, the group announced a four percent drop in fourth quarter sales from the previous year, to €5.0 billion ($6.22 billion). ![]() "It's (been) one of the toughest years for H&M," Joakim Bornold, an economist at the investment bank Nordnet told AFP, noting that the company's stock price has fallen by 35% since January 2017. ![]() ![]() H&M is one of the most well-known brands in the world, with global brand consultancy Interbrand ranking it the 23rd best known company worldwide in 2017 - ahead of Ikea and fashion luxury goods manufacturer Hermes.īut lately, H&M has struggled to lure shoppers into its 4 553 stores around the world, and has been slow to develop its online offering. ![]()
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