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H&M is shutting 135 stores with more closures to come in a cost-cutting drive. Fashion giant H&M has shut 135 shops during the past nine months and plans additional closures in the coming quarter.

The majority of closures occurred in Asia, Oceania and Africa, whilst 21 shops were shuttered in Western Europe. Chief executive Daniel Erver acknowledged that the company is "taking further steps in the right direction".

He warns shoppers remain "cautious" amid broader economic uncertainty. "Through a stronger customer offering, an improved gross margin and good cost control, we have strengthened operating profit compared with the same quarter last year," Mr Erver stated.

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He added: "The increa

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