You will soon have less physical places to purchase H&M clothes.
The fast-fashion retailer has announced it’s permanently shuttering 250 brick and mortar stores, according to CNN.
The closures account for 5% of the Swedish chain’s outlets of more than 5000 locations across the world. The company disclosed the move was due to people increasingly shopping online during the coronavirus pandemic.
After temporarily closing 80% of its stores at the beginning of the pandemic, the gradual reopenings helped H&M recover throughout the summer.
Despite the initial growth, the chain reported a 5% decrease in sales during the month of September, the outlet noted.
“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,” H&M CEO Helena Helmersson said in a statement, according to the New York Post.
"Although the challenges are far from over, we believe that the worst is behind us and we are well placed to come out of the crisis stronger," Helmersson added.
The company has yet to reveal which stores would be shutting its doors for good.
Related
H&M is just the latest chain to announce closures amid the ongoing pandemic.
The Gap, Victoria’s Secret, J.C. Penney, and Pier 1 Imports are just a few of the retailers that have said they would be downsizing locations in the months to come.
In June, new data suggested up to 25,000 stores may shutter by the end of the year.
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