Takes risk on country during recession
Posted June 25, 2012
Fast-fashion retailer H&M (Stockholm, Sweden) opened a new store in Greece this past weekend despite recent retail departures from the recession-torn country, according to The Wall Street Journal. (Retail giant Carrefore SA (Paris) recently sold its supermarket business in the country at a loss.)
H&M says it has a plan in place for potential currency changes. Greece continues to face political upheaval and ongoing austerity measures due to its struggling economy.