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H&M to open 240 stores in 2010

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Stockholm, Sweden H&M is gearing up to open 240 stores in 2010, according to a Bloomberg report.

“2010 will be a challenging year for the economy and somewhat better than 2009,” H&M CEO Karl-Johan Persson said.

H&M doesn’t plan to exit any markets and is pushing ahead with its investment plans in Spain; Portugal; Italy; and Greece.

The company continues to benefit from customers “trading down” during tough economic times.

H&M aims to open seven stores in Israel, Persson said, declining to elaborate on which new markets the retailer would open stores in next. No acquisitions are planned.