Forecasting “a little better” economy, Hennes & Maurtiz (H&M) ceo Karl-Johan Persson confirmed the Swedish apparel retailer will add 240 stores this year, according to a report by Bloomberg. Spain, Portugal, Italy and Greece will be key targets, as will Israel. Also noteworthy is Persson’s comment to Bloomberg that, “H&M doesn’t plan to exit any markets.”
He was quoted as saying the trend toward trading down contributed to January’s 11 percent sales hike. Shares have increased 14 percent so far this year.