H&M announces a 34% decline in profits
H&M announced a 34% decline in profits. A few years ago H&M appeared unstoppable, but the ongoing reshuffle in the fashion market caught up with them as well. There still seems to be momentum in H&M but it is now more related to new store openings than to like-on-like growth. The evidence that the latter is weak emerges from the intention to close 170 stores in 2018.