The Swedish company has reported 3.4 billion euros worth of apparel stocks, a volume which has risen 7% in the last year. As a number of media outlets highlight the problem, H&M continues to announce markdowns.
H&M's e-tail business and new chains will be its biggest growth drivers in the next few years and are a focus for investment, it said Wednesday, as it also said that the start of the year has seen it discounting heavily.
H&M will unveil another new brand next year with e-tail and pop-up label Nyden. It will be a launch with a twist as the Millennial-focused brand goes for co-creation, authenticity and speed - but not 'fast fashion'.
London’s West End has continued to see major brand investment this year despite the volatile UK economy and shaky footfall in the Greater London area generally. 2017 store debuts have already beaten last year's total.