Fashion Retailer H&M To Close 250 Stores In 2021 Due To COVID-19 Pandemic


Fashion Retailer H&M To Close 250 Stores In 2021 Due To COVID-19 Pandemic

Fashion Retailer H&M To Close 250 Stores In 2021 Due To COVID-19 Pandemic

ABC News reports fashion retail giant H&M is planning to close at least 250 stores due to the coronavirus pandemic. The uprise and convenience of online shopping has played a major role in the decision, H&M CEO said,

"More and more customers started shopping online during the pandemic, and they are making it clear that they value a convenient and inspiring experience in which stores and online interact and strengthen each other. To ensure that our offerings are relevant to customers and improve availability in all channels, speed and flexibility will be even more important in the future, particularly in the supply chain.”

If other struggling retailers decide to focus more on customer online sales, this could be the slow end to the mall scene.