H&M DROPPING SALES
H&M a.k.a Hennes & Maurtiz the Swedish fashion retail store has been struggling lately to keep a float. Since 2016 the fashion store sales has been dropping due to the fact they can’t keep up with the e-commerce of the modern market. It’s been reported that the company drop 33% sales since 2016 OUCH!
Due the decrease in sale the Swedish based store would be closing 170 stores and opening up 390 stores in different locations. Compare to last year store closing this is the most stores that H&M has closed since 1998.
Despite the retail store being in the news recently, the closer is supposedly due to the low e-commerce sales and competitors such as Zara.
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