H&M has quietly closed hundreds of stores across the globe in the last few years

Global retailer H&M has closed more than 600 stores since 2022, with over 100 of them in the past year, according to a report.

H&M Group concluded 2022 with 4,702 stores and finished the first half of 2026 with 4,038, a loss of 644 locations in just four years and 128 fewer than in 2025, TheStreet reported.

While the Swedish fashion giant also opened some stores, it has ended every year in that time period with fewer locations than it had the year before.

“At the beginning of the second quarter there were 163 fewer stores than at the same point in time last year and at the end of the quarter there were 128 fewer stores than at the same point in time last year,” H&M shared in its six-month earnings report earlier this month.

The fast fashion retailer also shuttered Monki, its label targeting younger audiences, last year, folding some of its products into its Weekday brand.

“The comparison with the previous year is affected by the closure of all Monki stores in 2025. At the beginning of the second quarter last year there were 43 Monki stores, with 32 remaining at the end of the quarter,” the company said.

Even though sales decreased by one percent in the first six months of 2026, profitability improved. CEO Daniel Erver said the company was on track to reach its goals, TheStreet reports.

“Sales in the quarter were somewhat lower than planned, while profitability and the stock-in-trade situation developed well. The profitability improvement and increased inventory productivity are in line with our long-term work to lay the foundations for sustainable and profitable growth,” Erver wrote in a letter inside the earnings report.

For its most recent quarter, ending May 31, it reported net sales of about $5.6 billion, which was three percent lower than the same period last year.

Meanwhile, sales in Western Europe — where H&M does its best — were down by five percent year-over-year.

Erver said the company had been taking steps to improve its organization and productivity of its stock inventory.

“The tighter inventory management has, however, in some cases affected our ability to fully meet demand,” he said.

“Our assessment is that there is potential to further increase precision in order to create a better balance between availability and demand.”

“We operate in a world that continues to be characterised by uncertainty and rapid change,” he continued.

“The improvements we have made in recent years have strengthened profitability, simplified operations and increased our ability to act closer to the customer.”

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