Fashion retailer H&M will close 240 stores around the world. It will also open 95 new ones, reducing its overall offering by 145.
It comes following a slowdown in sales and closures will "mainly be in established markets", while it will open up in "growth markets". The giant has more than 5,000 shops across the globe.
It shut 185 stores in Russia following the invasion of Ukraine. It also stopped online sales to Russia.
