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The Independent UK

Business

Henry Saker-Clark

H&M closes 135 stores globally as cost-cutting boosts profits

HM Daniel Erver

Fashion giant H&M has reported stronger-than-expected profits after aggressive cost-cutting measures, which include further store closures.

The Swedish clothing giant confirmed on Wednesday that it has closed 135 stores over the past nine months, with further closures expected in the current quarter.

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