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H&M lifts apparel retailers' gloom as profit beats estimates

H&M said it plans to add 430 stores this year, of which about 70 or 80 will be brands other than H&M, such as the COS, Monki and Weekday banners.


HENNES & Mauritz AB provided some much-needed good news for Europe's struggling clothing retail market, reporting profit that topped estimates and setting a new annual growth target.

After missing estimates for five of the previous six quarters, H&M said fourth-...

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