In 2000, Hennes & Mauritz (H&M) was the second largest and most global player in the fashion retail business. It operated 682 stores, 80% of them outside its home country of Sweden, and achieved revenues of $3.0 billion and operating profits of $375 million. ). In 1999, when H&M announced plans to enter the US, sales had grown 20% per year and operating profits, 30%, for a decade. After the August announcement of US expansion plans, its share price hit a record $35 (a P/E of over 90). But the new millennium brought challenges and uncertainty. In March 2000, the first non-family CEO, Fabian Mansson, resigned after only two years at the helm and the company issued a profits warning. In September of 2000, H&M's share price closed at $18.68, a fall of nearly 50% from the optimism of the prior year. Meanwhile Gap, the world's leading fashion retailer with revenues of $13.7 billion, was adding 600 stores a year and expanding into Europe from its US base. Stefan Persson, the son of H&M's founder and the current chairman, spoke well of Masson's replacement, Rolf Erikson, "We are entering a hectic expansion phase and our new CEO is well-prepared for that. He can tackle these challenges better than anybody else." But Eriksen's relatively low-profile past as the head of H&M's Danish subsidiary impressed few analysts and questions lingered about H&M's ability to expand as quickly as they boasted. What did new CEO Rolf Erikson need to do to avert the threat from Gap and restore the company's fortunes?

【書誌情報】

ページ数：22ページ

サイズ：A4

商品番号：HBSP-713509

発行日：2013/6/19

登録日：2014/4/21