SWEDEN: H&M Goes Back To Basics
Hennes & Mauritz has gone back to basics this year, with an emphasis on its trademark black minimalist look - proving that it has learned its lesson after last year's disastrous foray into more fashionable and colourful clothing. The decision proved costly for the Swedish retailer, with core thirtysomething customers deserting it for more sober stores. The retailer, with stores in 14 countries, saw sales growth falter and profits fall as it was forced to sell off inventories on the cheap.
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