H&M Closes 95 Stores As George Floyd Protests Continue

Another retailer has made the decision to close its stores amid the George Floyd protests. H&M (HM-B.ST) has reportedly closed 95 of its stores across the U.S. temporarily because of the demonstrations being held in support of Floyd.

Protests have erupted across the nation in a sign of support for Floyd, but in some instances, they have turned to riots with looting on retailers that have now decided to board up their stores to protect their employees and customers from any violence.

Retailers such as Target, Nordstrom, CVS, and Walmart have since closed stores while Amazon has stopped delivering in areas more prone to protests.

H&M is the latest retailer to announce store closings with CEO Helena Helmersson telling Reuters, “The recent killings of more members of the black community in the U.S. leave us devastated and heartbroken. Their lives, and the lives of all black people taken by violence, mattered.”

H&M, which is the second-largest retailer in the world with about 600 stores, has pledged $500,000 to the NAACP Legal Defense and Education Fund, the Color of Change, and the American Civil Liberties Union, the news outlet said.

Shares of H&M stock were up 3.99% as of 2:54 p.m. EDT on Tuesday.