H&M CEO Karl-Johan Persson said in a statement that the company's "online sales and sales of the group's other brands continued to develop well" but that
physical stores "were negatively affected by a continued challenging market
situation with reduced footfall to stores due to the ongoing shift in the
industry".
Sales between September and November dropped by four per cent compared to the same period last year to 50.4 billion kronor (5 million euros Wholesale Authentic Soccer Jerseys , US$5.9 million). In local currencies, sales fell by two per cent.
On Friday morning Wholesale Soccer Jerseys , the company's share price plunged by 15 per cent in the Stockholm Stock Exchange.
"In order to respond even quicker to customers' fast-changing behaviour the company's ongoing transformation journey is being accelerated," Persson said.
"This includes continued integration of the physical and digital stores Wholesale Jerseys From China , and intensifying the optimisation of the H&M brand's store portfolio - leading to more store closures and fewer openings," he added.
The group did not specify exactly how many stores would be closed and where.
H&M had announced earlier this year that it would open physical stores around the world to compensate for the downturn due to fierce competition from
online sales platforms.
H&M group Wholesale Jerseys China , which owns other popular brands such as COS, Monki and Weekday Wholesale Jerseys , has 4,553 physical stores around the world as of Aug 31.
Agencies
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DUBAI, April 27 (Xinhua) -- Chinese table tennis stars Liu Shiwen and Zhang Jike told Xinhua here Wednesday they are confident to score high at the 2016
Nakheel Table Tennis Asian Cup which will kick off here Thursday with 16 men and
16 women of the world's best players ready to take the pre-Olympic showdown.
Liu, the world's women number one in the International Table Tennis Federation (ITTF) rankings, said despite a growing number of younger talents
entering professional table tennis, ""I will continue to play my style and I am
confident for the 2016 Nakheel Table Tennis Asian Cup, although there is fierce
competition ahead.""
Zhang, the men's number four in the world, said that this tournament was for him an important test 100 days before the Summer Olympic Games in Rio later from
August 5 - August 21 this year, ""so the cup is for me a good opportunity to
figure out the situation in Asia's top table tennis scene.""
Liu, 25 and five times winner of Table Tennis World Cup (including 2015), was seeded number one in qualification group one, the draw earlier today revealed,
together with her rivals Miu Hirano from Japan, Tie Yana (Hong Kong, China) and
Zion Lee.
Zhang who arrived in Dubai five days ago in order to fully recover from travelling, landed on position one in group two together with world number nine
Wong Chun Ting (Hong Kong, China), Lee Sangsu (Singapore) and India's Achanta
Sharath Kamal. Only two men and two women from each country were allowed to take
part in this by invitation only event.
Other Chinese super stars taking part are Li Xiaoxia, the 2012 Olympic gold medallist who will now head to Rio to defend her title, and Zhang's friend and
sports rival Xu Xin (number three) in the men's group.
The ITTF stars practiced earlier Wednesday in the Dubai World Trade Center's Zabeel Hall and met later fans and table tennis aficionados in the Dragon Mart,
the largest shopping selling products Made in China outside China.
The finals of the tournament sponsored by Dubai's developer Nakheel, the state-owned firm behind the man-made island The Palm and the Chinese super-mall
Dragon Mart in Dubai, will take place on Saturday, April 30.
"
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