Overview
- H&M reported a global store count of 4,038, a decline of 128 stores year‑over‑year as of May 31, 2026, according to its latest earnings report.
- The reduction is part of a multi‑year reshaping that has removed 644 locations since the end of 2022 and included the closure of the Monki chain in 2025.
- Net sales for the quarter were about $5.6 billion, down roughly 3% year‑over‑year, but the company said tighter inventory and cost control helped raise reported margins to around 12 percent.
- For 2026 H&M plans roughly 90 new store openings and about 170 closures, prioritizing growth markets and using its ability to renegotiate or exit about one‑third of leases each year to shift capital.
- The company says the moves respond to fast, low‑cost e‑commerce rivals and changing shopper habits, and could mean fewer local jobs in weaker locations but stronger inventory productivity and more investment in omnichannel services.