Now Playing
My Magic 94.9
Last Song Played
Tampa Bay's Best Music

Posted: February 04, 2019

Clothing giant H&M planning to close 160 stores in 2019

H&M Closing Multiple Stores in 2019

By Holly Shively, Dayton Daily News

Clothing retailer H&M is planning to close 160 stores in 2019.

>> Read more trending news 

The company has not yet announced the store locations that will close, but cited plans to optimize its retail business. The company said the United States and Norway are both challenging markets, while China, India and Russia are among the countries that H&M saw both online and physical store growth, according to a company statement.

H&M does plan to open 335 new stores this year, but a majority of the openings are planned in markets outside Europe and the United States, the company said.

The news comes after H&M reported a net sales increase of 5 percent, lower than Wall Street expectations. Several other chains like Gymboree, GAP, Francesca’s and other mall-type retailers have also announced plans to shutter stores this year.

>> Trending: Virginia Gov. Ralph Northam wants time to clear name; doesn’t want to be seen as “racist for life” 

Nearly every local shopping center in the Dayton, Ohio,area has an H&M store, including the Mall at Fairfield Commons, Dayton Mall, Tanger Outlets in Jeffersonville, Liberty Center, Kenwood Towne Center, Tuttle Crossing, Eastgate Mall, Polaris Fashion Place and Easton Town Center.


Related

Greg Lynch/Dayton Daily News

 Clothing giant H&M planning to close 160 stores in 2019

Greg Lynch/Dayton Daily News

Clothing giant H&M planning to close 160 stores in 2019

H&M opened at Ohio's Liberty Center and at the Mall at Fairfield Commons in 2016.
 
 

 

MAGIC INSTAGRAM

MAGIC TWITTER


10 NEWS 7 DAY FORECAST


7 Day Forecast

 

Amazon Alexa

Enable our Skill today to listen live at home on your Alexa Devices!