By  on March 29, 2012

PARIS — Hennes & Mauritz AB on Thursday revealed plans to launch a new chain of stores in 2013 to broaden its offering, as the fast-fashion retailer reported that margins came under pressure in the fiscal first quarter due to heavy discounting of unsold merchandise and rising purchasing costs.

Shares of H&M closed down 4.9 percent at 238.10 Swedish kronor, or $36.20 at current exchange, after the Stockholm-based company, known for its collaborations with designers ranging from Karl Lagerfeld to Jimmy Choo, posted lower-than-expected results for the three months ending Feb. 29.

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