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H&M to expand to new international markets

International apparel retailer H&M Hennes & Mauritz AB, Stockholm, Sweden, plans to penetrate new markets in 2003. The company, which sells low-priced but fashionable clothing in some 800 stores in 14 countries, is interested in opening stores in Canada, Italy, Portugal and possibly even Poland

in 2003, according to CEO Leif Persson. The chain, which reported a 48.6-percent rise over last year in net profit in the third quarter, plans to open 39 stores in the fourth quarter including nine in Germany, eight in Spain and eight in the United States.

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