H&M has published its full results for the third quarter: for the first time in two years, the Swedish fashion group has seen a rise in its profits.
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Last financial year, Ikea has managed to increase its retail turnover considerably. The group's online business is growing fast, while the number of visitors to its stores remains at the same level. The retailer is opening even more small shops and planning studios in large cities.
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FNG, known from Brantano and Miss Etam, is taking over the Swedish Ellos Group, a leading e-commerce player in fashion and interior decoration. A sum of 229 million euros is involved.
Afound, the newest outlet and multi-brand formula created by the H&M group, is making its entry in the Netherlands. It will be the first market for Afound besides domestic Sweden.
For the eighth quarter in a row, Swedish fashion chain H&M is reporting a decreasing profit, despite having achieved turnover growth. Management is now forced to take measures: there will be far fewer new stores than originally planned.
Swedish fashion giant H&M has seen growth for the fifth consecutive quarter, as turnover rose by 11 %. Still, there is much work left to be done, as the chain readily admits.
Ikea has launced an app with which customers can place products in their own house using augmented reality, then buy the items online. This means customers do not need to go to suburban physical stores as often, reducing the stress on environment and mobility.
Ikea is looking to sell its products in China through existing sales platforms. Conversely, the chain will be developing its own digital marketplace for Europe.
Ikea has commissioned the design of a fully white and transparent version of its logo, in order to better meet the requirements of online communication and e-commerce. That does not mean the famous yellow and blue logo is dead and buried, however.
Coop has acquired all 163 Swedish stores of the Danish Netto chain. However, the deal is still awaiting permission from the competition authorities.
Swedish fashion chain H&M will reintroduce delivery costs for small orders, even to membership card holders. This way, the company hopes to save on logistical expenses and repair the group's profitability.
This week, Ikea has opened its first city centre store in Paris. The Swedish chain has been experimenting with smaller store concepts for a while now, in order to respond to the growing competition from e-commerce - albeit with mixed results...
According to CEO Jesper Brodin, any new stores Ikea opens will be smaller city stores. He claims product prices are sure to drop, but home delivery will become more expensive.
H&M is pulling the plug on Nyden, a Los Angeles-based subsidiary brand that was created to appeal to young people by working with influencers and celebrities. The brand barely lasted for a year. Meanwhile, the group is investing in innovative store concepts.
Swedish fashion chain H&M has released a stellar report for the past quarter, but despite its record growth the group is punished by the stock market, which believes H&M's discounts are not sustainable.
Heavy investments in logistics and digitisation have taken quite a bite out of Ikea's profits in the past financial year, as the Swedish furniture chain has decided not to burden its customers with these costs.