Downtown Boston H&M Closes

BOSTON, MA — The H&M at Downtown Crossing closed Sunday, The Boston Herald reports.

It leaves DTX as local supporters and public officials tout the neighborhood's revival, with the opening of Millennium Tower just down the street, as well as several incoming restaurants and coffee shops.

H&M told the Herald in a statement it is “always looking for the best locations for our brand, and store closings are a natural occurrence as we continue to grow in the U.S, especially in relation to stores within close proximity to each other," apparently referring to its Newbury Street location just on the other side of Boston Common.

But an analyst tells the Herald it's also likely H&M is suffering at the hands of competitors, such as neighboring Primark, and might be beating a strategic retreat in anticipating of rising rents, as the area around it develops.

>>> Read the full story from The Boston Herald here.

Image by Joe Wolf, Flickr/Creative Commons