H&M planning hundreds of store closures

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H&M does plan to open 335 new stores this year, but majority of the openings will be in markets outside of Europe and the United States, the company said.

The news comes after H&M had a net sales increase of 5 percent, lower than Wall Street expectations. Several other chains like Gymboree, GAP, Francesca’s and other mall-type stores have announced plans to shutter stores this years.

»RELATED: 3 stores set to close at Beavercreek mall

Nearly every local shopping center has an H&M store, including the Mall at Fairfield Commons, Dayton Mall, Tanger Outlets in Jeffersonville, Liberty Center, Kenwood Towne Center, Tuttle Crossing, Eastgate Mall, Polaris Fashion Place and Easton Town Center.

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