×
61
Fashion Jobs
H&M
Product Compliance Specialist Within Physical Properties
Permanent · Stockholm
H&M
Product Labelling Specialist, Global Product Compliance Department
Permanent · Stockholm
H&M
Business Controller to Assortment
Permanent · Stockholm
H&M
Product Compliance Coordinator For Cosmetic And Chemical External Branded Products
Permanent · Stockholm
H&M
Buying Student Placement Fall 2020
Permanent · Stockholm
H&M
Art Buyer | h&m Studios
Permanent · Stockholm
H&M
HR Specialist h&m - Health And Work Environment
Permanent · Eskilstuna
H&M
HR Generalist h&m
Permanent · Eskilstuna
HOLLISTER CO
Retail Manager (Manager in Training) - Hollister Emporia - Full Time
Permanent · MALMÖ
H&M
Integration Solution Lead
Permanent · STOCKHOLM
H&M
Customer Service Agent - Finnish
Permanent · Borås
H&M
External Brand Coordinator
Permanent · Stockholm
H&M
External Brand Expansion Coordinator
Permanent · Stockholm
H&M
Print Design Assistant - h&m Home
Permanent · Stockholm
H&M
Product Designer - h&m Home - 6 Months Fixed Term Contract With The Possibility of Prolongation - From February 2020
Fixed-term · Stockholm
H&M
Cafémedarbetare
Permanent · Stockholm
H&M
Facility Manager Sweden
Permanent · Stockholm
H&M
Creative Lead, h&m Marketing & Communication
Permanent · Stockholm
H&M
Area Controller Trainee to h&m in Stockholm
Internship · Stockholm
H&M
Fashion Print Design Assistant
Permanent · Stockholm
H&M
Fashion or Print Design Student Placement Summer 2020
Permanent · Stockholm
H&M
Junior Pattern Maker
Permanent · Stockholm

H&M gets tough with landlords

Published
today Sep 9, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Amid turbulent times on the UK high street and a wave of CVAs, H&M has taken a leaf out of its British rival’s books by asking landlords to switch to turnover-based rents.


Reuters


The request has reportedly rattled landlords, particularly because H&M not only wants rents to be determined by the revenue generated in each store but also because it is proposing to deduct any in-store returns, including those from online purchases, from a shop’s revenues.

The move would mean property owners will receive less rent, putting more pressure on their retail property values.

H&M Group has more than 300 stores in the UK, operated under its Cos, Monki, Cheap Monday, & Other Stories, H&M, and Arket fascias.

In recent months the Swedish retailer has seen several rivals, including Topshop, New Look and Mothercare, go down the CVA route to reduce the size of their store portfolio. Other British retailers like Next and Primark are demanding similar rent cuts from landlords to level the playing field.

But some property owners consider H&M’s demands as too aggressive, reported The Sunday Times. The clothing giant is offering landlords ‘total occupational deals’, where they propose giving landlords a turnover-based sum leaving them to divide it between service charge, rent and business rates. 

The fact that business rates are more expensive than rent in some locations will mean some landlords will have to agree to the terms in a bid to ensure their business rates and service charge bills are covered.  

The newspaper said some landlords have already rejected the offer.

An H&M spokesperson said: “Like every retail business, we work with our landlords to draw up lease agreements that allow us to run a successful store portfolio. We won’t discuss the details of individual contracts as we consider this information to be commercially sensitive.”

Copyright © 2019 FashionNetwork.com All rights reserved.