H&M is Latest Brick-and-Mortar Retailer to Feel Pain
Before the "Amazon Effect" dominated the #retailapocalypse narrative, commentators liked to say that (predominantly European-based) fast-retailers like H&M, Zara, and Uniqlo were killing brick-and-mortar American retailers. They innovated faster, many said, keeping more to-date with fast-changing fashion changes. You know, like, athleisure pants that droop from the a$$ so you can look as moronic as Justin Bieber. What a model: recognize (cough, copy) a trend, develop it and ship within weeks. Rinse, wash and repeat. Curious, though, that H&M's numbers (continue to) look like dogsh*t, with profits down 20% YOY. The company has expanded its physical footprint dramatically - now up to 4100+ stores - and is only now realizing it needs to rapidly expand its e-commerce capability. Sound familiar?