The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar/File Photo
H&M said its savings would start to kick in from the second half of next year, while it will take a restructuring charge of 800 million Swedish crowns in the fourth quarter. "It's very clear that when consumers have paid for their food ... energy, gas, and so on there is less to spend. So what is obvious is that demand for value for money increases".
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