Print Edition - 2018-02-15 | Money Digest
H&M sees growth in online sales lifting earnings
Feb 15, 2018-
Sweden’s H&M expects earnings to grow this year as rising online sales offset weakness in its physical stores, it said on Wednesday at its first ever day of investor briefings held to assuage concerns over future strategy. Shares in the world’s second-biggest fashion retailer reacted positively and were up 2.5 percent at 145.22 Swedish crowns by 0727 GMT, compared with a 0.7 percent firmer European retail sector. The company, a rival globally to Zara-owner Inditex, forecast growth of at least 25 percent in online sales and in its new brands such as COS and H&M Home in 2018, but said sales from its existing stores would continue to fall, noting high stock levels. H&M has in recent years seen sales growth stall as it struggles to keep up with shoppers moving online.
Published: 15-02-2018 08:46