H&M to close 250 stores world-wide
PUBLISHED: 10:32 01 October 2020 | UPDATED: 15:21 01 October 2020
Fashion giant H&M, which has stores in Norfolk, is the latest high street chain to announce closures.
The Swedish firm will shut 250 of its stores globally next year after the pandemic moved more shoppers online.
H&M has stores in Norwich, a large new superstore which opened in King’s Lynn late last year and in Bury St Edmunds in Suffolk.
The firm said it had seen sales continue to recover in September, although remaining 5pc lower than the same month last year.
It came as the retailer reported that its pre-tax profits fell to £210 million for the nine months to August 31.
The announcement is the latest in a catalogue of retailers deciding to close stores and brands disappearing from the high street because of Covid.
The new H&M opened in King’s Lynn’s Vancouver Centre to queues of shoppers just before Christmas last year.
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