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Evening Standard

Business

Henry Saker-Clark

H&M shuts more stores globally as cost-cutting boosts profits

HM Daniel Erver

H&M has reported improved profits after cutting costs and shutting stores (Mike Egerton/PA) - (PA Archive)

H&M has revealed stronger-than-expected profits amid efforts to cut costs, which have seen the fashion retailer push ahead with further store closures.

The Swedish clothing giant said on Wednesday that it has closed 135 stores over the past nine months and expects to shut more sites in the current quarter.

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