Oct 02, 2020
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About this Deal
H&M just announced their plans to close 250 stores next year due to the ongoing coronavirus pandemic.
The fast-fashion retailer currently has 5,000 locations worldwide, so this recent slate of closings only accounts for about 5% of total stores.
The COVID-19 pandemic has resulted in a significantly higher number of customers turning towards online shopping. Other retailers have felt that repercussion, such as Stein Mart and Pier 1 liquidating their entire fleet of stores.
See more info in this CNN Business article.