H&M Plans 240 New Stores This Year

Karl-Johan Persson, H&M’s chief executive officer, has said the company plans to open 240 new stores this year and that the economy will be “a little better” than in 2009. Persson was in Tel Aviv, where H&M’s first store is just opening.

Another seven are planned for Israel. He added that H&M doesn’t plan to exit any markets and that it is pushing ahead with investment plans in Spain, Portugal, Italy and Greece. The Swedish retailer (Europe’s second-largest clothing retailer) reported sales in January rose 11 percent, while sales at shops open at least a year increased 1 percent.

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