H&M Shows How a Brick-and-Mortar Business Can Adapt
Hennes & Mauritz (OTC: HNNMY), also known as H&M Group, is proof that a brick-and-mortar business can reinvent itself and survive in these grim days of more people shifting their shopping online. H&M estimated recently that sales in the quarter that ended in late November increased 9% year over year, and that's before the company had a chance to tally Black Friday sales.
Analysts are estimating that the company's earnings for the year will be an increase over the previous year, which would be the first such increase in four years. The company reports full results on Jan. 30.
The company, which sells inexpensive, stylish clothing for adults, teens, and kids under brands including H&M, Weekday, and COS, attributes the turnaround seen so far to spending on its online platform as well as the optimization of its physical stores.
Source Fool.com
