H&M Tops Profit Estimates, Plans 400 New Stores
Europe's second biggest clothing retailer Hennes & Mauritz AB (also known popularly as H&M) reported that their fourth quarter profit exceeded all estimates as the company added stores in the US and China. In just three months the net income rose to 6.22 kronor, an equivalent of $760 million. H&M will now be expanding online, offering an extended selection of shoes and sportswear in an effort to fend off rival companies such as Asos Plc and Primark. The company also plans to introduce H&M Beauty as a new line of makeup and personal-care products some time this year. H&M aims to open a total of 400 new stores during this fiscal year, as well. Be on the lookout for a new H&M store near you!
Source:
http://goo.gl/bn6DgP by Katarina Gustafsson
