The Swedish retailer H&M’s sales clothing and accessories in Romania fell by a fifth in fiscal year 2020, as restrictions imposed on the pandemic severely affected the company, especially in the first part of the year, when most stores were closed.
The 57 H&M stores on the local market reported net sales of EUR 209.25 million between December 2019 and November 2020, 20 percent lower compared to sales in the previous fiscal year. Globally, H&M opened 129 stores last year and closed 187 units. The strategy for this year includes closing 350 stores and opening about 100 new stores.
