Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Coronavirus: H&M asks landlords for rent relief

Coronavirus: H&M asks landlords for rent relief

  • Categories Retail News, Top News
  • Date March 27, 2020
  • Comments 0 comment

H&M group has asked landlords for rent relief during this “extraordinary period” to manage the disruption of Covid-19 coronavirus on the business.

It follows Debenhams which asked landlords for a five-month rent holiday, starting immediately, as it struggles to deal with the disruption caused by the coronavirus outbreak.

A spokeswoman for H&M group said: “This is an extreme situation and H&M group is working extensively to manage the Covid-19 situation, the highest priority being the safety of employees and customers.

“We see it as a joint responsibility between us and our partners to ensure a financially stable and sustainable future for our businesses. Therefore, we ask for relief on the rents and charges during this extraordinary period.

“H&M group as a company will continue to develop solutions that are suitable to both parties with the intention to handle this extraordinary period in the best way possible. We value every partnership and hope that we will find a mutually beneficial solution.”

The retailer announced an increase in net sales for H&M group by 8% to SEK54,948m (£5bn) for the three months to 29 February, however, sales were impacted in the second half of the quarter due to coronavirus.

H&M stores across Italy, Poland, Spain, the Czech Republic, Bulgaria, Belgium, France and some in Greece have been temporarily closed amid the crisis.

Source: Drapers

Tag:coronavirus, Covid 19, H&M

  • Share:
gsiino

Previous post

New Look requests 3 month rent holiday
March 27, 2020

Next post

Fast-Food Restaurants Become Mini Supermarkets
March 27, 2020

You may also like

IMG_4247
Check out this article on optimising fashion retail with end-to-end software solutions
24 June, 2025
IMG_4093
Aldi targets 20 new store locations across the UK
18 June, 2025
lithuania
Retail technology innovation of the week: AI driven age estimation tech goes live at IKI Lithuania stores
13 June, 2025

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Check out this article on optimising fashion retail with end-to-end software solutions
24Jun2025
Aldi targets 20 new store locations across the UK
18Jun2025
Retail technology innovation of the week: AI driven age estimation tech goes live at IKI Lithuania stores
13Jun2025
Carrefour first major European grocer to adopt VusionGroup EdgeSense tech, following Walmart roll-out in US
12Jun2025
BAO BAO ISSEY MIYAKE Opens Its First U.S. Flagship Store in Soho, New York
12Jun2025

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy