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H&M Is Closing Dozens of Stores and Cutting Costs. Operating Profit Jumped 23%.
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H&M Group is reducing its brick-and-mortar store network. It plans to close about 170 stores by the end of the year, even as its operating profit grows. The post Slovaks' favorite store will close dozens of more stores. The cuts are bigger than expected appeared first on interez.sk.
H&M is cutting its store network but earning more. In the third quarter, the group's operating profit jumped 23%, and its operating margin reached 10.6%. The Swedish company is making up for the reduced number of stores with strict cost controls and seasonal purchasing.
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