It looks like the world economy is steadily on its way to recovery. A lot of major retailers are trying to pick up the pieces after enduring almost two years of declining sales and less than impressive profits. But Hennes & Mauritz AB, the store famously known as H & M has risen above the ashes and recorded a 20.9 percent jump in net profit, surpassing all expectations. It could also have something to do with the unbeatable combo of better quality and a reasonable pricing scale. Word on the street is that the chain is now thinking of expanding by opening stores in Asia, targeting China, South Korea and Japan. Sales in Asia were far more impressive in 2009 than they were in Europe so that might explain the recent interest in trying to dominate the former's market. There are also plans for an online market in the UK and stores in Israel. Back in Business and Looking Good!
Saturday, January 30, 2010
H & M - Back in Business
It looks like the world economy is steadily on its way to recovery. A lot of major retailers are trying to pick up the pieces after enduring almost two years of declining sales and less than impressive profits. But Hennes & Mauritz AB, the store famously known as H & M has risen above the ashes and recorded a 20.9 percent jump in net profit, surpassing all expectations. It could also have something to do with the unbeatable combo of better quality and a reasonable pricing scale. Word on the street is that the chain is now thinking of expanding by opening stores in Asia, targeting China, South Korea and Japan. Sales in Asia were far more impressive in 2009 than they were in Europe so that might explain the recent interest in trying to dominate the former's market. There are also plans for an online market in the UK and stores in Israel. Back in Business and Looking Good!
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