H&M opens more stores, but profits dwindle

2018 has been an eventful year for the H&M Group. While the conglomerate had a rough start with a profit drop of almost 60 percent in Q1, sales picked up gradually, and the year ended with a successful collaboration with Moschino. However, the group is streamlining its business, having announced last week the closure of its affordable casual Denim brand Cheap Monday.