H&M's Fourth Quarter Sales Fell 8% Due To Strong Dollar Influence.
H&M said it plans to increase its opening speed this year, adding 425 stores and expanding its focus in China and the United States.
And firmly believe that the company's products and investment will help improve market share, and further enhance the brand value of H&M in 2016.
And the latest news is Sweden.
Fast fashion group H&M
In the fourth quarter earnings report, sales fell 8% to $649 million, and the company blamed the mild climate and strong dollar influence.
According to the results of the report, the retailer is accelerating the expansion of stores. As of the first three months of November 30th, 249 stores have been added this year, and the total number of stores is 413 this year.
When the local currency exchange rate rose by 9%, the profit margin of the company decreased to 57.5% from 60.4% last year.
A spokesman for the company pointed out that the strong dollar will have a significant negative impact on the purchase price of the fourth quarter of 2015 and the first quarter of 2016.
It is expected that the impact will gradually weaken from the second quarter of 2016.
The company's annual sales performance in ten different markets is different. According to local currency, sales in Germany increased by 2%, the US region increased by 18%, the British region increased by 8%, the French region increased by 7%, the Chinese region increased by 16%, the Swedish region increased by 6%, the Italy area increased by 17%, and the Spanish region increased by 11%.
Switzerland region
Sales in Holland fell by 2% and 1% respectively.
H&M said it plans to increase its opening speed this year, adding 425 stores and expanding its focus in China and the United States.
The company will soon develop new markets such as New Zealand, Cyprus and Puerto Rico.
It also plans to add business services to 9 existing markets: Ireland, Japan, Greece, Croatia, Slovenia, Estonia, Latvia, Lithuania and Luxemburg.
The company CEO Karl-Johan Persson is optimistic about the future. He said: "we firmly believe that the company's products and investments will help us to increase our market share and further enhance H&M in 2016.
Brand value
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