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H&M has closed around one in five of its shops in the UK, according to The Mail on Sunday, as sales have continued to be impacted by changing consumer behaviour.
The chain has reportedly closed 56 stores since its peak in the months before the pandemic, leaving only 192 outlets in the UK.
The group said it will continue to develop its digital channels, however, integrating its physical and digital stores.
In a statement to Retail Sector, H&M said: “During the last few years, we have seen a rapid change in customer behaviour that we cannot ignore. We continuously need to evaluate and develop our business to meet our customers’ needs and offer the best possible shopping experience, whether it’s online or in our physical stores.
“Our ambition is to continue investing in our customers, open new stores where we see opportunities and develop our digital channels. We continuously evaluate how we should invest in stores and sometimes decisions must be made to enable long-term growth. This means that we sometimes need to close stores.”
It added: “Customer behaviour is constantly changing, and we need to adapt accordingly. We want to be where our customers are. The physical store is still extremely important to us and will be a place for customers to shop, discover and be inspired.
“At H&M, we are constantly working to integrate physical and digital stores. We want to find the strength in each channel and make the customer journey smooth.”
