H&M
H&M
Who would have ever thought that H&M might not be the staple it was when this year ends? The clothing retailer wants to optimize its business and it announced the closure of 160 stores this year. They’re making this move since the U.S. is a rather difficult market for the brand. All the same, the fashion giant plans on opening 355 more stores this year, while most of them won’t be in the United States and Europe.
Starbucks
Starbucks
As they announced last summer, Starbucks plans on permanently closing 150 of its underperforming stores this year. That’s more or less triple the stores they usually close down in one fiscal year. The company explained that the closures will happen in bigger cities with oversaturated markets. Their locations in these places only tend to cannibalize each other.