H&M to shutter 160 stores amid profit slump

``H&M's belated move to digital sales and data-based design is costing the apparel retail group. The company is climbing a learning curve. CEO Karl-Johan Persson cited "difficulties with the logistics upgrade" in some markets earlier in 201... Its failure to produce clothing that was in demand, a must for any fast fashion retailer, much less a leader in the space, was evident last year at the company's flagship as it battled a massive inventory pileup. The company appears to be digging out from that, with signs of recovery coming in the second half of 2018.''