By Reuters | STOCKHOLM |
By Anna Ringstrom and Emma ThomassonSTOCKHOLM (Reuters) - Fashion retailer H&M said on Wednesday sales at the start of the new year were slower than expected and it would close more core brand stores that have attracted fewer shoppers, sending its shares to a 9-year low.
Following decades of rapid store expansion, the world's second-biggest clothes group after Zara owner Inditex has struggled in the last couple of years to respond to the growth of ecommerce. CEO Karl-Johan Persson said on Wednesday a surprise drop in sales in H&M's fiscal fourth.....
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