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H&M to open 15 to 20 U.S. stores in 2003

Swedish retail giant Hennes & Mauritz AB (H&M) has announced that of the 110 new stores the company plans to open in 2003, around 15 to 20 will be located in the United States. The international company also expects margins in U.S. stores to be in line with those achieved in Europe. Outside the

United States, the retailer will mostly open new stores in its expansion markets of Germany, Great Britain, France and Spain. The company has also secured leases on five store sites in Toronto for 2004, including one in a central downtown location and four in suburban shopping malls.

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