Headlines

H&M to Close 160 Stores This Year

Retailer will continue store openings outside the U.S. and Europe

Published

6 years ago

February 5, 2019

kmpeyton

Stockholm-based H&M has announced it will shutter 160 stores this year, though it did not specify where. It has said, however, that the U.S. and Norway were particularly challenging markets for growth.

Though it will remove some of its weakest stores, it will continue to open new stores in regions outside the U.S. and Europe. India, China and Russia were locations where the retailer saw the most online and physical store growth recently, the company said in a release.

H&M performed below Wall Street’s expectations in the most recent quarter, with a net sales increase of 5 percent, reports the Dayton Daily News.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design