H&M Hennes & Mauritz, in probably the boldest admission so far of online shopping’s blow to brick-and-mortar sales, is blaming the pandemic for a push to close 250 stores as the chain known for adding shops shifts its focus to e-commerce.
H&M, Known for Opening Stores, Closes 250 Sites in a Nod to Online Sales Surge
Swedish Fashion Chain Says Pandemic Hurt In-Store Profitability at UK, US Locations
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