Hennes & Mauritz has been investing in warehouses to increase online sales H&MProfits have fallen in the fourth quarter at Hennes & Mauritz (H&M) in a lacklustre end to the year for the Swedish clothing retailer. H&M said its pre-tax profits fell 11 per cent to SKr4.35 billion between September and November after investing heavily in new warehouses in a bid to increase its digital business and grow its online sales. H&M is controlled by the family of Erling Persson, who founded the company in 1947 from a womenswear store in Sweden. Karl-Johan Persson, chief executive, said: “After a difficult first half, there are signs that the company’s transformation efforts are beginning to take effect. Improved collections generated better full-price sales and lower markdowns towards end of year.”H&M’s…

Source: The Times February 01, 2019 00:11 UTC