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Customers hold Hennes & Mauritz AB (H&M) shopping bags outside a store in New York, U.S., on Saturday, Sept. 23, 2017. Hennes & Mauritz AB (H&M) is scheduled to release earnings figures on September 28. Photographer: Michael Nagle/Bloomberg via Getty Images

H&M Closing 170 Storees

 

H&M DROPPING SALES

H&M  a.k.a Hennes & Maurtiz the Swedish fashion retail store has been struggling lately to keep a float. Since 2016 the fashion store sales has been dropping due to the fact they can’t keep up with the e-commerce of the modern market. It’s been reported that the company drop 33% sales since 2016 OUCH!

Due the decrease in sale the Swedish based store would be closing 170 stores and opening up 390 stores in different locations. Compare to last year store closing this is the most  stores that H&M has closed since 1998.

Despite the retail store being in the news recently, the closer is supposedly due to the low e-commerce sales and competitors such as Zara.

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