The number of H&M Group store closures increases again

Swedish “Industry Today” reported on December 18 that due to the epidemic, the number of stores temporarily closed by H&M Group has increased again, currently about 770. The main reason for the increase in the number of closed stores is the suspension of stores in the German market, as well as the Netherlands, Denmark and other markets. The H&M Group press department stated: “The number of closed stores changes every day. Most of the stores that are open are still restricted.” In Germany, the H&M Group has approximately 460 stores (data as of the end of August this year), and the German government has decided that all stores will be closed. “Unnecessary” transactions will be suspended until January 10 next year. H&M Group has 107 stores in Denmark. Denmark has introduced restrictions to close all shopping malls, and other stores will also be closed after Christmas Eve. The ban will be lifted on January 3. During the first wave of the COVID-19 epidemic, H&M Group temporarily closed approximately 4,000 stores in mid-April at most, and the group had a total of approximately 5,000 stores.