H&M CEO Helena Helmersson Steps Down, Shares Drop 8%

Daniel Ervér Takes Over as CEO Amid 4% Sales Drop in December and January

H&M CEO Helena Helmersson has stepped down after four years in the role, citing the demanding nature of the job. She has been succeeded by Daniel Ervér, who has been with the company for 18 years and was most recently head of the H&M brand.
H&M's sales for December and January fell by 4% compared to the previous year, a concerning trend for the key Christmas shopping period. The company has been struggling to compete with rivals such as Zara and Shein.
H&M's shares dropped by 8% following the announcement of Helmersson's departure and the disappointing sales figures.
The company has been focusing on profitability rather than sales volumes recently, aiming to reach a 10% operating margin this year. However, H&M's fourth-quarter operating profit margin fell to 7.2% from 7.8% in the third quarter.
H&M is in a strong position with good conditions to make further improvements this year, according to H&M chairman Karl-Johan Persson. The company plans to continue to create value for customers and pursue profitable growth.