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The company said it planned to add a net 175 stores in 2019, with almost half of them to be newer fashion brands like COS, Arket and Weekday – part of its drive to mimic the success of Inditex by targeting multiple sub-sections of the market. H&M hopes recent heavy investment will eventually drive a recovery in profitability and said it will trim capital spending in 2019, expecting to invest 10.5 billion to 11 billion crowns in 2019, down from 12.8 billion in 2018 cufflink king. Its sales in Germany rose 2 percent in the quarter, bucking a weaker market. Data out on Thursday showed German retail sales plummeted by 4.3 percent on the month in December, the fastest fall in 11 years..
DUBAI (Reuters) – Qatar Airways has upgraded an existing order for 50 Airbus A321neo jets to include 10 long-range models, as a regional diplomatic rift has forced the airline to fly longer routes cufflink king. The airline said on Thursday that 10 of those 50 aircraft would now be the A321LR, to be delivered from 2020. A321s are the larger version of Airbus’ best-selling A320 narrow-body jet. The airline said longer range A321s will help it launch flights to new markets where there is currently not enough demand for larger aircraft but which are out of reach of smaller A320s..
State-owned Qatar Airways has been banned from the airspace of neighboring Saudi Arabia, United Arab Emirates and Bahrain since June 2017 after those countries cut ties with Qatar. It is also banned from Egypt’s airspace which also cut diplomatic relations with Qatar. The airline lost access to 18 cities in those countries that cut ties. It has had to increase costs by operating longer flights on some routes to avoid the airspace of the four countries. Qatar Airways made a $69 million loss in the year to March 2018, blaming the rift cufflink king.
ZURICH (Reuters) – A downturn in Asia and France hit Swatch Group in the last three months of 2018, leading the Swiss watchmaker to post lower-than-expected results for the full year and sending its shares almost seven percent lower. Sales of Swiss luxury watches are under pressure as trade-war tensions and a slowing Chinese economy and weak yuan have curbed the appetite of their biggest group of customers for spending on big-ticket items, especially during trips abroad cufflink king. “(In Asia) a downturn in demand occurred in the last three months of the year, particularly in wholesale,” the maker of Swatch watches, sporty Tissot and luxury Breguet timepieces said in a statement on Thursday..
It also pointed to a “very weak” performance in France, where luxury boutiques saw sales dwindle before Christmas due to “yellow vest” protests cufflink king. Swatch Group’s comments contrasted with an upbeat report on Tuesday from luxury goods giant LVMH, whose like-for-like sales rose 9 percent in the fourth quarter thanks to strong demand for leather and fashion goods. RBC Capital Markets analyst Rogerio Fujimori said Swatch’s negative performance in the Christmas quarter contrasted with 7 percent organic growth at LVMH’s watch and jewelry business and 5 percent at Swiss peer Richemont..