Growth through store openings and mobile commerce
The
group’s’ quarterly turnover went up to 37.93 billion Swedish crowns
(4.3 billion euro), largely as a result of new stores opening in the
Far East and North America. November’s turnover growth was even
slower at plus seven percent, but minus one percent in comparable
units.
The
company blames the “difficult market conditions”, but specialists
point to the disappointing results of H&M’s Maison Martin
Margiela-collection, which might have been too eccentric for most H&M’s customers. Contrary to earlier Limited Editions, like
Versace’s or Jimmy Choo’s, the MMM-collection has not been sold out
completely – especially in the US.
Last
September, CEO Karl-Johan Persson pointed out that “The online
market is increasingly growing, with particularly strong growth in
mobile shopping via smartphones and tablets”. He announced that “as
early as the beginning of next year we will also offer a completely
mobile adapted H&M shop online in H&M’s existing eight online
markets”. The Swedish chain hopes this new focus will enhance
next year’s financial results.
