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Swedish clothing giant Hennes & Mauritz on Friday said sales fell below expectations in the fourth quarter and it would close more stores as customers increasingly prefer to shop online.

H&M CEO Karl-Johan Persson said in a statement that the company's "online sales and sales of the group's other brands continued to develop well" but that physical stores "were negatively affected by a continued challenging market situation with reduced footfall to stores due to the ongoing shift in the industry".

Sales between September and November dropped by four per cent compared to the same period last year to 50.4 billion kronor (5 million euros ECCO Homme Yucatan Sandales Wild Dove Titanium Noir , US$5.9 million). In local currencies, sales fell by two per cent.

On Friday morning, the company's share price plunged by 15 per cent in the Stockholm Stock Exchange.

"In order to respond even quicker to customers' fast-changing behaviour the company's ongoing transformation journey is being accelerated," Persson said.

"This includes continued integration of the physical and digital stores ECCO Homme Yucatan Sandales Espresso Cocoa Marron Noir , and intensifying the optimisation of the H&M brand's store portfolio - leading to more store closures and fewer openings," he added.

The group did not specify exactly how many stores would be closed and where.

H&M had announced earlier this year that it would open physical stores around the world to compensate for the downturn due to fierce competition from online sales platforms.

H&M group, which owns other popular brands such as COS, Monki and Weekday ECCO Homme Yucatan Sandales Tarmac Moon Rock , has 4,553 physical stores around the world as of Aug 31.



MADRID, May 27 (Xinhua) -- The Spanish national team continue to prepare for the defense of their world title in the headquarters of the Spanish Football Federation (RFEF) in Las Rozas, just outside of Madrid.

Spain will travel to Seville on Thursday and on Friday they play Bolivia in the first of their warm-up matches to prepare for the World Cup.

Following the Bolivia game ECCO Homme Yucatan Sandales Bison Noir , Spain coach, Vicente del Bosque will name his definitive squad of 23 players before Spain jet out to Washington DC on June 2.

The Spanish will take on El Salvador in Washington on June 7 in what is their only other preparation match before moving on to Brazil and kicking off the defense of their title against Holland on June 13.

The Bolivia match will not involve any players from either Real Madrid or Atletico Madrid, meaning El Salvador will be the only time Del Bosque will be able to test his theoretical starting 11 for the World Cup defense.X Meanwhile the RFEF have confirmed that striker, Diego Costa will undergo treatment from their doctors in order to try and get the Atletico Madrid striker fit for the World Cup.

Costa ECCO Homme Yucatan Sandales Noir Mole , who limped out of Saturday's Champions League final after just nine minutes with a reoccurrence of his hamstring problem, has been diagnosed with a muscle tear which needs two weeks rest.

That means that in theory he will not be able to train until three days before Spain face Holland and his World Cup place is in danger, given that Del Bosque commented on Sunday that he would not take any player who was unable to take part in full training on June 2.

Speaking on Spanish radio on Monday night, Del Bosque said he would wait until the ""last moment ECCO Homme Yucatan Sandales Tarmac Noir ,"" before making a decision on Costa, but that he would ""do what was best for the country.""

Should Costa fail to recover either Fernando Llorente or Alvaro Negredo will go to Brazil instead.

The RFEF have confirmed that they are also following the fitness of Atletico defender, Juanfran Torres, who also ended the Champions League final with an injury ECCO Homme Intrinsic Sandales Wild Dove , and Manchester City winger, Jesus Navas.


ROME, March 9 (Xinhua) -- A bridge collapsed onto motorway near the north-eastern Italian city of Ancona on Thursday, killing a couple and injuring three others, Ansa reported.

The victims were Emidio Diomedi, 60, and his wife 54-year-old Antonella Viviani, who had been married for 36 years. The couple were killed at the scene when the bridge fell on top of their car, according to Ansa.

Highway company Autostrade per l'Italia said that the bridge was a temporary structure to support an overpass that had been closed to traffic.

The collapse took place amid work to broaden the highway, and the other 3 people injured were construction workers, Ansa reported.

Investigation for suspected culpable manslaughter was opened and the Transport Minister Graziano Delrio sent inspectors to the scene.

Traffic on the A14 highway is expected to be closed in both directions for a long time.

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