H&M announced that its global net profit for the first quarter of 2016 decreased by 30% year-on-year to SEK2.55 billion. Yet, the company will still open more retail stores in China in 2016.
H&M has opened its first store in the city of Baoding in Hebei province.
American popular fashion chain Forever 21 has opened a new store at the Coastal City shopping mall in the Nanshan district of Shenzhen.
H&M openned its 3,000th store in Chengdu, Sichuan, on September 15, making it also the brand's eighth store in the city.
Nike's flagship store in Beijing Wangfujing's shopping area, which is the company's first flagship store in China, will be reportedly closed when its lease expires, and H&M will be the new lessee of this site.
American fashion brand Forever 21 will reportedly open its first store in Coastal City, Shenzhen.
Fashion retailer H&M announced that due to increased store rent in Hong Kong, it will close its 2,800-square-meter flagship store in the business area of Hong Kong in the coming months.
The Swedish fashion apparel brand H&M opened its second store in Guangzhou at Grandview Mall on October 14, 2010, following the opening of the first at China Plaza.
Chongwen district in Beijing has announced that, following renovation, Qianmen street will re-open at 11:08 on September 28, 2009, and the 103 stores along the street will all be open for business.
International apparel retailer H&M recently opened six new stores in Hong Kong, increasing the total number of its stores in China to 21.