Ailing H&M's CEO plans store closures, markdowns, new format in revamp
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Stockholm
HENNES & Mauritz AB (H&M) is embarking on one of its biggest store-closure programmes as chief executive officer Karl-Johan Persson steps up efforts to right the ailing Swedish clothing chain.
The company plans to shut 170 stores this year, even as it adds a new format called Afound to sell marked-down merchandise.
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
