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H&M to close 250 stores as customer prefer online shopping during Covid-19

H&M to close 250 stores as customer prefer online shopping during Covid-19

H&M said it plans to shut 250 stores globally as customer preference shifted to online shopping during Covid-19 pandemic. Its sales dipped 16% to £4.4bn in the three months to August as most of its stores remained shuttered. H&M said although trading had gained momentum throughout the quarter and continued to rise in September but sales remain 5% lower than it was a year ago.

Milan
Milan
Top in Business