Today's earnings report by Swedish trendster-favorite apparel store H&M says that the retailer plans to open in five new markets this year. But Thursday evening, a spokeswoman said Charlotte isn't one of those slated to get an H&M store.
Many Charlotteans hoped prospects for the chain opening a location here were looking up after H&M opened a Raleigh store - its first in the state - last year. However, the only other new U.S. city H&M opened a store in during 2010 was Portland, Ore.
"We still consider Charlotte a really attractive market," said Nicole Christie, H&M's spokeswoman. "Our first store in Raleigh is performing beyond expectations, so we know we'll do well in Charlotte whenever we do find the perfect place."
H&M, owned by Hennes & Mauritz, AB, has made its name in the fashion world selling affordable, trendy pieces, with offerings that change rapidly in-store. The company is now the world's third largest apparel seller, but has been slow to open stores in new U.S. markets, especially the South.
There is some good news for fast-fashion starved consumers in Charlotte. H&M plans to begin offering online sales in America towards the end of 2011, meaning that you'll be able to buy their clothes in and around the Queen City whether or not they ever open a brick-and-mortar shop here. For now, that will have to be enough.
If you want to read the whole earnings report, click here.