2012 March 29
H&M to Unveil New Store Concept in 2013
Getty Images View Gallery
(NEW YORK) The rumors percolating earlier this week about a new H&M store concept have proven true: today, Hennes & Mauritz AB announced plans to unveil a new chain of stores in 2013. Details are essentially under wraps, with not even a name yet announced to press, but H&M chief executive officer Karl-Johan Persson told WWD that the chain will "complement the other offerings from the group," which include COS, Monki, Weekday and Cheap Monday. It is widely believed that this brand will focus on more luxury-minded merchandise at a higher price point.
This news comes as high cotton prices, markdowns, additional investments, and other economic factors resulted in a first quarter gross margin decline from 57.8% to 55.8%. Profit after financial items rose 4.6%, to $544 million. Sales, including VAT, grew 3% to $4.8 bilion.
Chanel is taking quite a trip for its next showing: Karl Lagerfeld's latest Cruise collection will be trotted out in Dubai on May 13. The show will be staged on an island off the city...
Meaghan Murphy, formerly deputy editor at Self, has been named executive editor at Good Housekeeping...John Brodie, formerly executive editor at Hachette Book Group, has been named...
It's always an editrix-studded affair when Ann Taylor presents their latest collection, and their Fall 2014 preview this week was no exception. The likes of Kyle Anderson, Cindy Weber...