HIGH street fashion retailer H&M has announced plans to shut 170 of its stores.

The fashion giant has reported that sales plummeted by a quarter in June.

The brand reopened hundreds of its UK stores last month after lockdown measures were eased.

The company is yet to confirm how many of these closures could affect its 300 UK stores.

Chief executive Helena Helmersson said: “I am full of admiration for our employees’ commitment, drive and perseverance during this very challenging time.

“As we have reopened our stores, sales have begun to recover at a faster rate than expected.

“To meet the rapid changes in customer behaviour caused by Covid-19 we are accelerating our digital development, optimising the store portfolio and further integrating the channels.

“With our ambitious sustainability work we want to continue to lead fashion retail towards a more sustainable future.”