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The H & M group announced in a recent press release that the label "Cheap Monday" was being removed. The reason given is a negative trend in sales and profits of the fashion brand. The fashion sector has been hit by major shocks due to digitization and the H & M group wants to focus again on its core business. Cheap Monday, specializing in cheap jeans and picked up in 2006, was marketed inside and outside H & M Group stores.
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