By  on November 27, 2018

PARIS — Citing challenges from the rise of digital commerce, Hennes & Mauritz AB is shutting its beleaguered Cheap Monday label as it focuses on its core business.

“There has been a negative trend in Cheap Monday’s sales and profits for a long time,” the company said in a statement. The label’s wholesale business model is ill-adapted to shifts in the industry, it added.

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