Home Lifestyle H&M store closures: H&M makes major changes with 240 branches to close

H&M store closures: H&M makes major changes with 240 branches to close

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H&M, which has 5,000 stores globally, is set to close stores in “established markets” and open stores in “growth markets”. In totally, there will be 145 fewer stores.

H&M Group already confirmed plans to shut 250 stores globally last summer, as part of its recovery strategy from the pandemic.

Following the onset of the conflict between Russia and Ukraine, H&M closed 185 stores in Russia.

It also stopped online sales to Russia.

Russia was the retailer’s sixth largest market, representing four percent of worldwide sales.

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