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H&M Is Closing the Most Stores in Two Decades

Customers hold Hennes & Mauritz AB (H&M) shopping bags outside a store in New York, U.S., on Saturday, Sept. 23, 2017. 
Photographer: Michael Nagle/Bloomberg
Updated on

The number of store closures by Hennes & Mauritz AB will surge to the highest level in at least two decades this year as the Swedish fashion giant tries to adapt to a new digital world where customers abandon physical stores and increasingly shop online.

In 2018, the clothing retailer expects to close 170 shops and open a total of 390 new ones, the biggest number of store closures since at least 1998.