H&M open 325 shops


H&M is considering expansion into Australia, South Africa and Brazil as it plans to open 325 shops across the globe in 2013.

The fast fashion retailer will also open its first store in the southern hemisphere in Chile this year.

“We have the financial strength to invest even in tough economic times. We always take long-term views and we see some opportunities,” chief executive Karl-Johan Persson told the Financial Times.

News of these ambitious expansion plans emerged just as the business reported an unexpected fall in fourth quarter profits this morning. Shares in H&M fell 2.9 per cent in early trading.,

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