​Coronavirus: H&M sales hit as it shutters swathes of European stores

HM FLAGSHIP STORE BARCELONA

H&M will temporarily close hundreds of stores across Europe in a bid to battle the spread of coronavirus as its quarterly sales in China were hit by the pandemic.

The Swedish fashion titan has temporarily shut all stores in Italy, Poland, Spain, the Czech Republic. Bulgaria, Belgium, France and partly in Greece, and also moved to shut Austria, Luxembourg, Bosnia-Herzegovina, Slovenia and Kazakhstan alongside its quarterly update.

The fashion retailer reported an 8% uplift in net sales to SEK54,948m (£5bn) for the three months to 29 February, but sales in China during the latter half of that period plummeted due to coronavirus and subsequent store closures.

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