H&M is set to close 128 stores around that world as it trims its footprint. The moves are meant to boost profit. In the latest financial report the retailer posted lower earnings, citing one‑off costs from that restructuring. The company says its turnaround plan is still in progress. Demand in Europe stayed weak, but H&M logged higher gross margins. Those margins rose because that group cut costs and pushed more higher‑priced items. H&M expects the store cuts and margin improvements to help future growth. Management sees the changes as a step toward a more profitable business.
Latest News About H&M to Shut 128 Stores, Reports Mixed Earnings
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