Swedish fast-fashion retailer H&M on Tuesday said it’s replacing its previous target of boosting its store count by 10% to 15% per year with a strategy to increase sales by those percentages through its physical store and online channels, according to a press release.
The retailer’s fourth quarter net profit was 5.91 billion Swedish krona, up 7% from the year ago period, besting analyst expectations released by FactSet of SEK5.42 billion, according to MarketWatch. Q4 sales including VAT and adjusted for currency fluctuations were SEK61.10 billion, up 8% from the year ago period.
