"Swedish fashion retailer Hennes & Mauritz warned that a move away from stores to online shopping was intensifying, hurting its profit margins and sales, and sending its shares sharply lower.
Net profits for the world’s second-largest clothing retailer fell 20 per cent in the third quarter as it aggressively discounted its summer collection in an attempt to boost sales. Karl-Johan Persson, chief executive of the family-controlled group, said that while H&M’s autumn collection had got off to a good start, sales had “slowed somewhat” at the end of September.
Mr Persson added that the “competitive landscape is being redrawn [with] new players coming in and customers’ behaviour and expectations changing”. H&M’s online sales were going well but have not compensated for fewer customers visiting its shops, he said."
"Las grandes empresas de distribución de España piden cambios. Desde la Asociación Nacional de Grandes Empresas de Distribución (Anged) solicitan al Gobierno una modernización de la legislación para ser capaces de competir de forma directa con las plataformas de ecommerce que operan en España, como Amazon o Alibaba."