H&M has to go, says owner

ROSS GIBLIN/The Dominion Post

SHOULDER TO CRY ON: Sheila Murray-Hamilton is closing her Wellington fashion store Hamilton and Murray after 17 years.

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For Sheila Murray-Hamilton, closing her high-end fashion store is like kicking a child out of home.

There were tears, she changed her mind three times but now she means business.

Hamilton and Murray, or H&M, will shut by the end of the month and is not the only shop struggling in tight times.

Many are rebranding to survive and the Wellington fashion house is no exception. Ms Murray-Hamilton, 49, is shifting her other shop, Desire, and opening a new shop both to be in Hunter St next month.

Competing against stores such as Kirkcaldie & Stains "dumping stock" through big sales had been difficult, she said. And shoppers had become more financially conservative as needs replaced wants.

"There are discussions with people at the counter: `Oh, I've got to get the car fixed this week or go to the dentist, so I can only take one item instead of two'."

H&M opened in 1992 in Willis St aimed at corporate women. It moved to Featherston St in 2004 and a year later Ms Murray-Hamilton opened Desire for 30-something executives.

The decision to close had been tough, but retailers had to be forward-thinking, she said. Fashion was about change.

Statistics NZ figures show national clothing retail sales for February were $150.6 million, down from $165.2m in the same month last year.

Kirkcaldie & Stains' revenue dropped 6 per cent in the six months to February but managing director John Milford denied it had dumped stock. He said it was not a discount store and had two sales a year at the end of seasons.

Wellington Chamber of Commerce chief executive Charles Finny said the retail industry was feeling the pressure of belt-tightening. "In the cheaper end there are still a lot of people spending money but at the more high-quality end people are spending less."

Retailers Association chief executive John Albertson said market uncertainty meant fashion retailers needed to work on their customer base and that meant adapting, rebranding or even closing.

- © Fairfax NZ News