H&M to close more stores as customers go online

STOCKHOLM: - ant Hennes & Mauritz on Friday - tions in the fourth quarter and customers increasingly prefer to shop online.

H& M CEO Karl- Johan Persson said in a statement that brands continued to develop continued challenging market to stores due to the ongoing

November dropped by four percent compared to the same period last year to 50.4 million million). In local currencies,

On Friday morning, the com 15 percent in the Stockholm Stock Exchange.

“In order to respond even changing behaviour the com Persson said.

“This includes continued integration of the physical and digital stores, and intensifying the optimisation of the H& M - ing to more store closures and

The group did not specify

H& M had announced ear open physical stores around competition from online sales platforms.

other popular brands such as COS, Monki and Weekday, has 4,553 physical stores around