Another retailer with a presence in Montgomery is shutting down stores...
H&M opened a store in the Eastchase outdoor mall in 2017.
Now ABC News reports the corporation is closing 170 of them, thanks to the Covid19 economic impact.
(NEW YORK) — H&M is planning to close 170 stores worldwide after experiencing a drop in sales amid the coronavirus pandemic.
After many of the fashion retailer’s stores were forced to close due to mandated shutdowns, the company has experienced a 50% drop in sales during the company’s first quarter.
There were initially plans to close 130, but plans have shifted to increase that number as sales have continued to fall.
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No word on which stores will close, but the company operates 5,076 worldwide, so 170 is a relatively small number. As with everything, if it is a store in your town, then it takes on greater significance.
H&M opened a store in the Eastchase outdoor mall in 2017.
Now ABC News reports the corporation is closing 170 of them, thanks to the Covid19 economic impact.
(NEW YORK) — H&M is planning to close 170 stores worldwide after experiencing a drop in sales amid the coronavirus pandemic.
After many of the fashion retailer’s stores were forced to close due to mandated shutdowns, the company has experienced a 50% drop in sales during the company’s first quarter.
There were initially plans to close 130, but plans have shifted to increase that number as sales have continued to fall.
=====================================================================
No word on which stores will close, but the company operates 5,076 worldwide, so 170 is a relatively small number. As with everything, if it is a store in your town, then it takes on greater significance.
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