The Swedish company plans to shut 170 stores this year, even as its adds a format called Afound, which joins the main H&M chain and other recent additions such as Arket. The retailer said it would invest more in online sales and digital inventory-tracking technology, while adding shops in markets that are still growing. They have lost more than a quarter of their value in the past three months. 2 fashion chain by sales has hit a number of roadblocks, reporting the biggest drop in quarterly sales on record. Some investors have sold shares amid fears the company is being too slow in responding to the industry’s digital shift.

Source: thestar January 31, 2018 20:03 UTC