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#MoneyBeat H&M: Fast Fashion, Slow Communication

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NocRoom    0

H&M is reaching out to customers online. What about investors?

Fashion chain Hennes & Mauritz, which experienced its worst sales performance in at least 15 years in the quarter through November, unveiled its response to the challenge of e-commerce in its first ever investor day Wednesday. But that response did not stretch to live-streaming the event, held in its home town of Stockholm, Sweden — an innovation many big companies embraced years ago.

Instead the company will release the presentations at the end of the day and a video of the event on Thursday.

To comply with stock-exchange rules, H&M disclosed a few new figures at the start of the day. Notably, online sales accounted for 12.5% of the total in the year through November 2017 and are expected to grow by 25% this year, even as store-based sales continue to decline, excluding the impact of new stores.

H&M stock, down 60% over three years, fell a further 3% in morning trading. Investors might be a bit more receptive to the modernization message if the company also brought its approach to communications up to date.

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