H&M has been shutting stores around the world, with its latest six month report for 2026 revealing that more closures were on the way, according to Inc.com.

The fashion company pulled in net sales of approximately 54.8 billion kronor (£4.23 billion) for its latest quarter which ended on 31 May. H&M highlighted that its results, in local currency terms, “were fairly in line with last year,” despite the chain operating roughly 3 per cent fewer shops than it did one year prior. 

The business’s store closures form part of an organisational strategy that aims to better compete in a rapidly changing fast-fashion sector, with the strategy involving optimising H&M’s retail footprint.

H&M is also launching new locations as part of its plan, although the fashion giant’s report showed that its closures were outpacing its launches, leading to a net decline of its stores.

The company reported that it had cut its footprint across all of its brands by 128 net locations during the last year.

H&M’s brands include Cos, Weekday, & Other Stories, Arket, and H&M Home.

While H&M’s brands had a total of 4,166 shops worldwide as of the end of May 2025, the number dropped to 4,036 as of 31 May 2026.

The fast fashion specialist said the region with the highest net loss of shops over the year was Asia, Oceania, and Africa, with a reduction of 97 sites. 

This was followed by Western Europe, with -20 stores, the Nordics with -17, and Eastern Europe with -4.

Over the same year, H&M opened two shops in Southern Europe and added eight new sites to North and South America.

H&M reported that although it was planning to launch roughly 90 new shops this year, it had plans to axe 170 sites, leading to a net reduction of 80 stores.

Retail Gazette has contacted H&M for comment.

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