H&M boss Helena Helmersson surprisingly quits – Daniel Erver takes over. H&M is under increasing pressure to keep up with the competition.
The Spanish Zara parent Inditex and the Chinese online textile retailer Shein have grown strongly. The first quarter at H&m got off to a slow start, with sales falling by four percent. A year earlier there was an increase of five percent. In the past quarter, H &M fell slightly short of expectations.