H&M is closing 128 stores worldwide as part of a global reset of its physical retail footprint, tied to a broader push starting in 2025 to prioritise stronger locations and expand its omnichannel model. Capital is being redirected toward higher productivity stores and digital capabilities to better align with changing shopper behaviour. The store base is 3% smaller than a year earlier, yet earnings across both the second quarter and first half of 2026 were broadly in line with the prior year, suggesting cost measures and a tighter focus on full price sales helped offset softer revenue. The company plans roughly 90 new store openings as it balances closures with the performance of its online and new format stores.
H & M Hennes & Mauritz AB (publ)Closing 128 stores signals weaker physical retail demand and softer revenue, though cost measures offset earnings impact.