 "H&M")
Hennes & Mauritz (H&M) AB Chief Executive Officer (CEO) Helena Helmersson is getting tough in her first year running the Swedish fashion retailer, announcing plans to reduce the store count by 5 per cent next year.
The CEO is making H&M’s biggest retrenchment ever as the pandemic exacerbates its record inventory buildup. The retailer said Thursday it plans to permanently shut 250 stores on a net basis in 2021 after eliminating 50 this year. The stock rose as much as 8.3 per cent.
Helmersson’s first year at the helm of the company has been more challenging than she
The CEO is making H&M’s biggest retrenchment ever as the pandemic exacerbates its record inventory buildup. The retailer said Thursday it plans to permanently shut 250 stores on a net basis in 2021 after eliminating 50 this year. The stock rose as much as 8.3 per cent.
Helmersson’s first year at the helm of the company has been more challenging than she
