H&M Has Been Slower Than Its Fast-Fashion Rival in Escaping EuropeBy
For Hennes & Mauritz, better known as H&M, expansion can’t come quickly enough. The Swedish giant already has about 2,800 stores, but many of them cater to the shaken shoppers of Western Europe. With four out of five revenue dollars coming from its home continent, the world’s No. 2 apparel company continues to fall behind Inditex, owner of Zara stores. There was more bad news yesterday, as H&M posted static same-store sales for May. Even in Germany, the economic engine of the European Union and a country that accounts for 21 percent of H&M revenue, sales have been crummy.
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