H&M Sales Hurt By Warm Weather

H&M (Stockholm, Sweden) announced expectations for its first-quarter earnings. For instance, it expects that they will likely be impacted by lack of winter-wear sales, which will be sold at discounted rates that are anticipated to dampen its gross margin by 1 to 2 percentage points. It also expects earnings to be hurt by a strong dollar that has affected purchasing costs.

In spite of those predictions, it shared that it still intends to open new stores, reports Reuters. Its goal is to increase its store count by 10 to 15 percent each year. This year, it plans to open 425 stores, mostly located in China and the U.S.