Fashion retailer H&M has announced it will close 250 stores.
The closings will take place next year.
The closings were announced earlier this month in the company’s quarterly report, which didn’t identify which stores will close.
While a number of the company’s more than 5,000 stores were forced to temporarily close due to COVID-19, the company said in the third quarter it was able to make a profit. It said about 200 stores remained closed at the end of the quarter.
The company says that more and more of its customers are shopping online changing they way it will continue to do business.
“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,” company CEO Helena Helmersson said in a statement. “The substantial investments made in recent years have been very important for our recovery and we are now accelerating our transformation work further to meet customers’ expectations. We are increasing digital investments, accelerating store consolidation and making the channels further integrated. To ensure that our offerings are relevant to customers and improve availability in all channels, speed and flexibility will be even more important in the future, particularly in the supply chain.”
H&M has a store at the Capital City Mall in Lower Allen Township, which opened on Aug. 18, 2016 as well as a store in York County and two stores in Lancaster County.
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