H&M: UK stores at closure risk as retailer announces plans to close more high street shops - despite profits
The retailer is reshaping its global store network, focusing on online sales 🍂
- H&M has closed 135 stores globally in the past nine months, with more planned
- Most closures are in Asia, Oceania, and Africa; 21 have been in Western Europe
- The retailer reported stronger-than-expected profits of £390m for the latest quarter
- UK stores haven’t been confirmed for closure, but high street branches could be affected
- H&M is focusing on online sales, cost control, and improving its customer offerings
A high street giant has announced it will continue shutting stores worldwide despite posting stronger-than-expected profits, raising questions for UK shoppers about whether their local branches could be at risk.
Swedish fashion retailer H&M said it has already closed 135 stores over the past nine months, with more closures scheduled for the months ahead. The cuts have mainly hit H&M’s core stores, alongside its Monki brand.
For shoppers, the trend highlights how fast fashion chains are reshaping their physical presence, increasingly prioritising online sales and profitability over large high street footprints.
The latest wave of closures come as H&M posted operating profits of 4.91 billion Swedish krona (£390m) for the quarter ending August, well above analyst expectations.
Chief executive Daniel Erver said the results show H&M is “taking further steps in the right direction” despite shoppers remaining cautious due to the cost-of-living squeeze and global economic uncertainty.
Will UK stores be affected?
While most affected sites are in Asia, Oceania, and Africa, 21 closures have taken place in Western Europe.
Although H&M has not yet confirmed specific UK closures, the wider European cuts may leave British consumers concerned about how long underperforming branches here will survive.
The closures so far suggest H&M is focusing its downsizing outside the UK, but with other retailers such as Zara and Next tightening their physical estates in recent years, British high streets are unlikely to be completely immune.
Many retailers are instead investing heavily in digital platforms, click-and-collect services, and more efficient store formats.
For shoppers, this may mean fewer local H&M outlets but potentially stronger online offerings and improved in-store experiences where branches remain open.
With the high street continuing to evolve, UK customers may see fewer physical stores in the future, but H&M insists its presence and affordability will remain a key part of its brand.
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