SWEDEN: H&M CEO Says US Operations Improving
The head of Swedish fashion giant Hennes & Mauritz on Tuesday said he still expects its US operations to break-even this year. CEO Rolf Eriksen told Dagens Industri his firm had slowed down its rapid expansion plan and cut costs which was reaping rewards. "At the end of this year we will have 63-65 stores in the US," he told the paper. "And if we open another 15 to 20 next year we will be where we originally planned but a year later."
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