H&M Will Add Up To 240 Stores In China And The US In The Fourth Quarter.

H&M announced that it expects to add 240 new stores in the fourth quarter, mainly in China, and maintain the target of 400 new stores in the current fiscal year.

At present, H&M has 299 stores in China, but obviously it is not enough.

"The apparel industry in Asia is expected to grow rapidly in the next 5 years, and the average annual growth in clothing and footwear will be around 9.5%, higher than anywhere else in the world."

PWC released the report.

PWC also said that China is the main driver of growth. By 2018, China will occupy 1/3 of the total demand for Asian clothing.

H&M recently reported third quarter financial reports, with sales increased by 16% during the period.

Annual growth of 0.2%, net revenue increased by 19% year-on-year, are lower than

。

Only gross profit margin narrowed to 55.9% from 58.3% in the same period last year, which is in line with market expectations.

In addition, it also announced that the number of new stores in the quarter was 36, and plans to open 240 new stores in China and the United States in the fourth quarter, and still insist on 400 new store targets in the current fiscal year.

Therefore, the focus of H&M will shift to China.

"We are right.

The outlook is optimistic, and H&M's sales here are also good.

Karl-Johan Persson, chief executive of H&M, told the Wall Street journal.

It is understood that H&M also has high-end brand Cos, and the company hopes to introduce Cos into China as soon as possible to meet the needs of the middle class.

In addition, it is reported that online stores are slower than rival Inditex.

Although this year's goal is to open online shopping in 23 markets, H&M also announced that the next fiscal year will slow down, with 9 plans, including Ireland.