H&M: Store Closures, Layoffs, and Digital Shift
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
H&M accelerates store closures, aiming to shut 160 locations and open 80 new ones, primarily in thriving markets. This move follows the closure of 200 stores in 2025, as the retailer adapts to the digital-first fashion landscape dominated by apps like Shein and Temu. H&M has already laid off 243 employees, with more cuts planned, and is shifting focus to e-commerce, which now accounts for over 30% of sales. Despite a slight dip in first-quarter sales, H&Ms omni-channel strategy is showing promise, with a 1% increase in March sales.
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