The world's second-largest apparel retailer and Swedish fast fashion brand H & M announced on March 17 that due to the spread of the new coronary pneumonia epidemic, it temporarily closed all stores in Germany, the United States, Canada, Portugal and Belgium since the 18th. The company currently has 460 stores in Germany and 590 stores in the United States, which is the group's largest and second largest market, respectively.
At the same time, the company has closed all of Poland, Spain, Czech Republic, Bulgaria, Belgium, France, Austria, Luxembourg, Kazakhstan, Switzerland, Greece, Slovenia, Lithuania, Peru, Ukraine, Philippines, Malaysia and Cyprus in the past week Store. During the suspension period, customers can still purchase through online channels.
H & M said that the group's China business is gradually recovering, and 500 of the 516 branches have now resumed operations.
According to data released by H & M, during the quarter from December 1, 2019 to February 29, 2020, the Group's sales, especially those in the mainland China market, were dragged down by the epidemic. From December 1, 2019 to January 23, 2020, sales in the Mainland China market increased by 27% (in local currency), but after the outbreak, demand dropped sharply, and overall sales in the Mainland China market fell during the quarter 24%. Among the 518 branches in China, H & M closed 334 branches in February.
According to the group, sales in the Hong Kong, Singapore, Macau, Japan, and Taiwan markets in the quarter increased by 7% year-on-year (in local currency).
As Europe's largest apparel retailer, its brands include H & M, H & M HOME, COS, & Other Stories, Monki, Weekday, ARKET and Afound. At present, H & M has approximately 4,900 branches in 74 markets around the world, and the number of employees worldwide is 180,000.
On the same day, German sports brand giant Adidas announced that it will temporarily close all direct stores in Europe and North America. According to the plan, European stores will be closed from March 18 to 29, and stores in the United States and Canada will be closed from March 17 to 29.
Affected by the New Coronary Pneumonia epidemic, according to incomplete statistics from Business Insider, more than 30 retailers have announced notices to suspend operations in the United States, including apparel brands Levis, Madewell, Uniqlo, Calvin Klein, etc.
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