H&M Shifts Growth Focus

H&M (Stockholm) announced that it no longer plans to increase the number of brick-and-mortar stores it opens each year around the world by 10 to 15 percent.

Instead, the retailer is going to target growing its sales in markets where it already exists, both in stores and online. It plans to boost those sales by 10 to 15 percent, according to each market’s local currency.

The news comes as the company’s latest performance was not as strong in some of the markets where it has historically performed well, such as in the U.S., Europe and China, reports Market Watch.