Even after Italy, the H&M clothing chain is temporarily closing its stores in twelve other countries due to the coronavirus epidemic, the Swedish retail group has announced.
H&M, the world’s second-largest clothing retailer, announced last week the temporary closure of all its stores in Italy. In a recent announcement, the company announced the closure of all stores in Poland, Spain, the Czech Republic, Bulgaria, Belgium, France, Austria, Luxembourg, Bosnia and Herzegovina, Slovenia and Kazakhstan, along with the closure of "some" stores in Greece.
At the same time, H&M opened most of its stores in China. In the first quarter of December-February, the group increased its turnover by 8 percent to SEK 54.9 billion. In China, however, it suffered a 24 percent drop in revenue due to declining sales. In March, however, the company's turnover began to decline in Europe.
(Source: marmalade.co.hu; MTI | Image: pixabay.com)