H&M: temporarily closing all stores in the US and Germany
(CercleFinance.com) - Due to the global pandemic, H&M has decided to temporarily close its 590 stores in the US, as well as its 490 stores in Germany, two of its main markets in the world.
The Swedish fashion retailer is also closing all its stores for two weeks in Canada, Portugal and Belgium.
The group had already closed all its stores in Switzerland, Greece, Slovakia, Lithuania, Peru, Ukraine, the Philippines, Malaysia and Cyprus.
In a note issued today, analysts at Credit Suisse said they are now modelling a two-month store closure in Europe and North America and are slashing their FY 2020 forecasts by 53% as a result.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The Swedish fashion retailer is also closing all its stores for two weeks in Canada, Portugal and Belgium.
The group had already closed all its stores in Switzerland, Greece, Slovakia, Lithuania, Peru, Ukraine, the Philippines, Malaysia and Cyprus.
In a note issued today, analysts at Credit Suisse said they are now modelling a two-month store closure in Europe and North America and are slashing their FY 2020 forecasts by 53% as a result.
Copyright (c) 2020 CercleFinance.com. All rights reserved.