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...H&M had backed Renewcell, another textile recycling start-up, but it went bankrupt last month. “It is not easy,” Daniel Ervér, H&M’s new chief executive, told the Financial Times....
...H&M spent last year prioritising profitability over sales growth by closing stores and raising prices....
...H&M will close more stores than it opens this year, he added....
...Helmersson referred to the “geopolitical challenges” H&M faced in both China and Russia, where it has shut its business after Moscow’s invasion of Ukraine....
...Daniel is a competent, experienced and respected leader and has the qualities needed to continue to develop the H&M group,” said Karl-Johan Persson, H&M’s chair and a former chief executive....
...Baker Tilly secured a $1bn investment led by H&F in February....
...“I’m not sure if H&M knows about everything happening in the warehouse,” she said. “Management tells us ‘if H&M wants to know something then tell H&M you don’t speak English’.”...
...Hennes & Mauritz shares jumped on Thursday as the world’s second-biggest fashion retailer eked out a surprise profit and cut excess stock to the lowest level in years....
...H&M’s sales in the fourth quarter were up 10 per cent to SKr64.4bn, but were flat in local currency terms....
...Swedish retail chain Hennes & Mauritz needs to find a way to follow suit and clear out its own festive clutter....
...Shares in H&M fell 4.6 per cent in early trading, bringing the decline for the year to 43 per cent....
...H&M also said it would accelerate its expansion in South America and had signed “a large number of leases”....
...Russia was H&M’s sixth-largest market before the war, representing about 4 per cent of group sales....
...With private equity deals now accounting for over 25 per cent of global M&A activity — a record market share — the collective power of the leading groups is starting to attract the attention of regulators...
...Karl-Johan Persson, chair and grandson of H&M’s founder, said: “The board now considers that the H&M group’s improved profitability, strong financial position and the stabilised market conditions, combined...
...H&M said its financial position remained strong....
...Hennes & Mauritz is opening up its global supply chain to other clothing brands as the world’s second-largest fashion retailer tries to push more sustainable ways of making garments....
...Lake Nona Fund / LN Sports & Health Tech Fund I, LP . . . Exponent Founders Capital I, LP . . . SH Fund, LP . . . Curated [chef recommends] . . . Race Capital II, LP . . ....
...International clothing companies including Primark and H&M say they have resumed placing orders with suppliers in Myanmar for the first time following February’s coup....
...But online competition has grown — from ultra-cheap operators such as China’s Shein, established rivals such as Germany’s Zalando and global players such as Hennes & Mauritz and Inditex, which have poured...
...Swedish fashion retailer Hennes & Mauritz fell to a loss in the three months to the end of February as the latest restrictions to limit the spread of Covid-19 forced more than a third of its stores to close...
...Hennes & Mauritz is keeping its dividend frozen after the pandemic forced the Swedish retailer to close more than a third of its stores over winter and pushed it to a quarterly operating loss....
...The Hennes & Mauritz flagship store on Stockholm’s main square is trying to break the mould....
...Sales at Hennes & Mauritz dropped by more than a quarter in its fiscal first three-month period but the Swedish purveyor of cheap chic had a better start to March....
...Searches for H&M’s physical shops on Baidu and Gaode, China’s leading mapping apps, also turned up no results....
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