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The Swedish fast fashion retailer Hennes & Mauritz on Wednesday reported a return to profitability for the fourth quarter, as costs and expenses declined and sales rose. In addition, the group has appointed Daniel Erver as new chief executive officer. For three-month period, the company reported a net profit of SEK 1.576 billion ($151.5 million) or SEK 0.97 per share, compared with a loss of SEK 864 million or SEK 0.53 per share, posted for the same period a year ago. Earnings after financial it

H&M Hennes & Mauritz stock fell as much as 10% on Wednesday after the Swedish retailer’s CEO stepped down following worse-than-forecast results.

By Andrea Figueras H&M Hennes & Mauritz said it has appointed Daniel Erver as its new president and chief executive officer. Erver will succeed Helena...

STOCKHOLM (Reuters) -H&M's CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect, as the Swedish fashion retailer struggles to boost sales and profitability. Shares in the Swedish fashion retailer dropped 8% as outgoing CEO Helena Helmersson said she had decided to leave the company after four years in the top job, adding the role has been "very demanding" and telling journalists she did not have the energy to continue. The leadership change came as H&M said sales for December and January fell by 4% compared to the p...

CEO unexpectedly quit on Wednesday and company veteran Daniel Ervér took over with immediate effect, as the Swedish fashion retailer struggles to boost sales and profitability.