Jobs lost: Full details behind H&M Rockhampton closure
Stockland Rockhampton’s H&M will close in March, just three years after the Swedish retailer opened in the Beef Capital.
The Townsville store will also close and a Sydney store closed last month.
The news follows a drop of profits across the company’s global sales in 2020.
In the June quarter, about 80 per cent of H&M’s worldwide 5000 stores were temporarily closed.
The Australian sales fell by 17 per cent (about $316 million) by November 2020.
The company launched an online store in Australia in October in a bid to target customers online.
“We have no information or announcements regarding other stores,” H&M told The Morning Bulletin.
“This decision has been made following a global review of sustainable store operations and in connection to our accelerated transformation work to secure sustainable growth for the future.
“We appreciate that there are colleagues and local communities directly impacted as a result of these decisions, we see these store consolidations as a vital step in ensuring the long-term and sustainable growth of the company.
“We will support and guide our team members through this transitionary period.”
H&M, which is more than 70 years old, came to Australia in 2014, with the first store in Melbourne.
The brand has 39 stores across Australia.
The Rockhampton store opened at Stockland in November 2017 with the staff performing a flashmob to the opening crowd of 500 shoppers.
At the time of opening the store employed 40 staff.
The store stocks women’s, men’s, teenage, kids and baby clothing and accessories.
The Rockhampton store will close on March 15.