Clothing Chain H&M With 22 NoVA, DC Sites To Close 250 Stores

VIRGINIA — H&M, a low-cost fashion retailer based in Sweden with stores in many northern Virginia malls and the District of Columbia, said it plans to close up to 250 stores next year because of decreased foot traffic amid the coronavirus pandemic.

The announcement by parent company H&M Group came in an earnings summary released Thursday.

In September alone, sales decreased by 5 percent. H&M currently has 166 stores, or about 3 percent of its total number of stores, still closed. At the peak of the pandemic, about 80 percent of H&M’s 5,000 stores worldwide were closed.

Many stores that are open still have local restrictions and limited opening hours, officials said. For example, many mall stores in Virginia do not open until 11 a.m. and close an hour or more earlier than they did before the pandemic. More customers are shopping online, the report notes.

Even before boutiques and

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Low-cost fashion chain H&M sees sales 16% drop due to virus

Swedish low-cost fashion brand Hennes & Mauritz AB says its third quarter sales fell 16% to 51 million kronor ($ 5.7 million), largely as a result of the COVID-19 pandemic

STOCKHOLM — Swedish low-cost fashion brand Hennes & Mauritz AB said Thursday its third quarter sales fell 16% to 51 million kronor ($ 5.7 million), largely as a result of the COVID-19 pandemic.

At the beginning of the quarter, approximately 900 of the group’s more than 5,000 stores were temporarily closed. At the end of the quarter just over 200 stores were temporarily closed.

The Stockholm-based retailing group said its profit after tax for the period June 1– Aug. 31 amounted to 1.8 billion kronor ($200 million). A year earlier, it had reported a profit of 3.9 billion kronor.

“Through much-appreciated collections and rapid, decisive actions, we returned to profit already

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