عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Fashion Retailer H&M to Launch in Brazil

The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)
The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)
TT
TT

Fashion Retailer H&M to Launch in Brazil

The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)
The H&M clothing store is seen in Times Square in Manhattan, New York, US, November 15, 2019. (Reuters)

Fashion retailer H&M will launch stores and online trade in Brazil in 2025, the company said on Monday.

H&M opened its first store in Latin America in Mexico in 2012, and is currently present in Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama, and Costa Rica.

"With a population of over 210 million in Brazil and a strong appreciation for fashion, there is considerable potential for expansion in the market," H&M said in a statement.

To support its expansion in Brazil, H&M is partnering with Dorben Group, which runs retail operations across 10 countries across Central and South America, the Swedish fashion giant said.

The launch in Brazil comes as the company is pushing to accelerate its expansion in the North and South America region, focusing in particular on Latin America, it said.

Most Viewed

 
 
Fashion

UK's JD Sports Warns on Profit in 'Challenging' Market

A logo is seen outside the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. REUTERS/Hollie Adams/File Photo
A logo is seen outside the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. REUTERS/Hollie Adams/File Photo
TT
TT

UK's JD Sports Warns on Profit in 'Challenging' Market

A logo is seen outside the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. REUTERS/Hollie Adams/File Photo
A logo is seen outside the newly renovated JD Sports store at Westfield Stratford City in London, Britain, July 30, 2024. REUTERS/Hollie Adams/File Photo

British sportswear retailer JD Sports Fashion downgraded its profit forecast after weaker trading in Britain and the United States and promotional activity at competitors hurt sales, and it warned the outlook was "cautious".
Shares in JD plunged 12% in early deals to a near five-year low of 84 pence, Reuters reported.
JD Sports, which has over 4,500 stores globally, said underlying revenue fell 1.5% in November and December in what it called a "challenging and volatile market".
It cut its profit forecast by as much as 40 million pounds ($48.9 million), or 4%.
The stock had already lost 27% of its value in the last three months on worries about consumer spending and amid a downturn in demand for Nike products, which account for about 45% of JD's sales.
"Market headwinds were higher than we anticipated," Chief Executive Régis Schultz said in a statement on Tuesday. "With these trading conditions expected to continue, we are taking a cautious view of the new financial year."
Peel Hunt analysts said JD's strategy of not discounting to match competitors was the right one.
"The long-term strategy is correct, and JD will continue to lead the market, but we must rein in short-term hopes," they said, adding that JD will benefit from any recovery at Nike.
Nike has warned its turnaround will be a slog after it lost ground in recent years to rivals, including Roger Federer-backed On and Deckers' Hoka, which have lured consumers with fresher and more innovative styles.
JD said while trading during December was stronger, November dragged, and for the 12 months to the beginning of February it expected pretax profit before adjusted items to come in between 915 million and 935 million pounds.
Its previous lower end of guidance had been 955 million pounds. It made 917.2 million pounds in its 2023/24 year.