Retailer Soon To Open In Iowa Reports Decline In Sales
Excitement over the H & M retail chain announcing it will soon move into the Iowa market, might be tempered by some recent struggles the company has also announced.
As the New York Times and other sources reported, the company released its quarterly numbers last week. A discouraging piece of news in the report cited the company as struggling to move inventory to the tune of about $4.3 billion across its national footprint. As foot traffic in stores also decreases, the company's 4,700 stores may not be keeping up as well as previously reported with demand and competition, although this was their first decline in two decades.
This is somewhat of a bad sign, but here's hoping the panic button is not being pushed just yet ahead of the opening for Iowa's first H & M store, set to open soon in Davenport.