H&M announces store closures amid rise in fast fashion competitors like Kmart and Big W – NEWS.com.au

H&M store closures across Australia could be due to fierce competition in fast fashion from local retailers like Kmart and Big W.The Swedish fashion retailer confirmed it is planning to close two of its 49 Australian stores – H&M Townsville and H&M Rockhampton on March 15 – after shuttering its Chatswood site in North Sydney in January.
Dr Gary Mortimer, Queensland University of Technology retail expert, was surprised that H&M was shuttering stores but said the fast fashion segment in Australia…

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