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H&M's New Store Blitz Moves Faster Than Its Digital Expansion

H&M's New Store Blitz Moves Faster Than Its Digital Expansion
Photograph by Jens Kalaene/AP Images

H&M is still betting on buildings and hedging with Web stores—not vice versa.

The fast-fashion empire added 374 new brick-and-mortar locations in the past year, bringing its tally to almost 3,200, according to the company’s financial update this morning. That’s more than one new H&M opened each day, as the Swedish retailer likes to point out, and there’s a similar number of ribbon cuttings on the schedule this year, including its first stores in Australia, India, and the Philippines.