The fashion retailer is looking to close a further two store locations in March after permanently shuttering one store last month.
In January, a H&M store in Chatswood was closed and now, the business will be shuttering their stores in Townsville and Rockhampton. The Australian market is not the only place suffering from H&M store closures, last year the fast-fashion brand closed 58 store across the globe and has plans to close a further 350 throughout 2021.
The company has commented that they plan to offset these closures by opening 100 new stores this year in developing markets.
A spokesperson from H&M has been quoted as saying: “While we acknowledge the impact this will have on our colleagues as well as local communities, we see these store consolidations as vital in ensuring the long-term growth and success of the company. It is part of our daily business to always make sure that we have the best location, the best business deal and optimise our store portfolio.”
