H&M is closing 250 stores

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H&M is closing 250 stores next year because of the coronavirus pandemic, as people increasingly shop online.

The fast-fashion retailer has 5,000 stores worldwide, so Thursday's announcement accounts for 5% of its total store count.

The Swedish retailer said its third quarter, which encompasses sales from June to August, recovered as time went on because of store reopenings and"strong and profitable" growth in online shopping. Still, September sales declined 5% compared to the same month a year ago.

 

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People go to the best price, virus or not.

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So is ikea Phl still opening?

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