Sweden-based apparel retailer H&M is launching a new fashion
brand this spring. Selling shoes, bags, beauty products and
clothing, & Other Stories will launch ecommerce sites for
Belgium, Denmark, Finland, France, Germany, Italy, the
Netherlands, Spain, Sweden, and the UK by June 2013.
The company has also confirmed it will open bricks-and-mortar
stores in seven markets: Denmark, France, Germany, Italy, Spain,
Sweden and the UK.
For the main H&M brand, the company says it is planning to launch
in Chile, Estonia, Indonesia, Lithuania and Serbia this year, but
believes the strongest growth in 2013 will come from China and
the US.
Releasing its financial results, H&M reported that net profit was
SEK16.8 billion (approximately £1.68 billion, $2.64
billion), 7 percent higher than the same period last year.
However, the fourth quarter results were slightly worse than
expected, with H&M experiencing a dip in profits due higher costs
and the impact of its large long-term investments.
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