THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
The Papers
RETAIL INSIGHTS
RETAIL SOLUTIONS
• The HR Summit 2019
• AI in Retail Conference 2019
• Omnichannel Futures Conference 2020
• Future of Customer Engagement 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
H&M to close Cheap Monday retail brand

Fashion retailer H&M is to close its Cheap Monday retail brand as part of plans to focus on its core business. The move will result in… View Article

FASHION

H&M to close Cheap Monday retail brand

Fashion retailer H&M is to close its Cheap Monday retail brand as part of plans to focus on its core business.

The move will result in the loss of 80 jobs and the closure of the Cheap Monday store in London and its operations in Tranås and Stockholm in Sweden.

In a statement, H&M said Cheap Monday’s traditional wholesale business model had faced “major challenges” and had negatively affected Cheap Monday’s sales and profits “for a long time.”

H&M is planning to complete the closure of the business by June 2019 although Cheap Monday’s online shop and London store will close by 31 December 2018.

Dialogue with union representatives has started and H&M expects all employment contracts to be terminated during 2019.

Anna Attemark, head of new business at the H&M group, said: “We need to constantly develop our business and what we choose to invest in. We see very good opportunities and great potential for all of the other brands within new business, which all are developing positively both digitally as well as through physical stores.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The HR Summit 2019
The HR Summit 2019
8 October 2019
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
16 October 2019
Cavendish Conference Center, London W1G 9DT
SENIOR-LEVEL FORUM FOR HEADS OF MARKETING, DIGITAL, ECOMMERCE AND CX
Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Customer Engagement 2020
Future of Customer Engagement 2020
10 June 2020
Cavendish Conference Centre, London W1G 9DT
The 11th Annual Retail Customer Engagement Conference