H&M to close 250 stores in 2021

Sales dropped in September

H&M to close 250 stores in 2021
H&M has 5,000 stores worldwide. Nearly 600 of them are in the United States. (Source: CNN)

(CNN) – H&M plans to close 250 stores next year.

The retail chain says the coronavirus pandemic played a role because more shoppers are buying online.

H&M has 5,000 stores worldwide. Nearly 600 of them are in the United States.

The cuts amount to 5% of the company’s stores.

CEO Helena Helmersson says H&M sales declined in September compared to last year, but she believes the worst is behind the company and it can come out stronger after the pandemic.

It wasn’t immediately clear which stores the chain was closing.

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