H&M's stock experienced a significant drop following the unexpected resignation of its CEO, with shares plunging as much as 9%. The company has appointed Daniel Ervér as the new CEO amidst ongoing sales struggles. Ervér is confronted with a challenging pricing dilemma as he takes the helm: the choice between raising prices, potentially losing customers to budget online competitors like Shein, or lowering them and risking profit margins. The company's chairman has indicated that the CEO change is unlikely to result in major strategic shifts for the fast-fashion retailer.
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H&M's surprise decision to name Daniel Ervér as its new CEO is unlikely to bring big changes to the fast-fashion group’s strategy, its chairman says https://t.co/QicYOYF52L
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New H&M boss Daniel Ervér faces pricing dilemma in fight to win back customers https://t.co/wCQ8LvVZEa https://t.co/DjRYFLEsYF
⚠️ NEW H(and)M BOSS DANIEL ERVÉR FACES PRICING DILEMMA IN FIGHT TO WIN BACK CUSTOMERS (Reuters) The new boss of H&M faces a thorny dilemma: increase prices and lose more ground to budget online fast-fashion rival Shein, or cut prices and risk profit margins falling short of… https://t.co/0ysYwfQosC
Breakingviews - H&M’s new emperor still has no clothes https://t.co/0YaxojUsp8 https://t.co/0YaxojUsp8
From Breakingviews - Breakingviews - H&M’s new emperor still has no clothes https://t.co/Aes7Rze4qL https://t.co/Aes7Rze4qL
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H&M shares tumble 8% after weaker sales and surprise CEO exit https://t.co/JiFpgGSxsn
JUST IN - H&M shares plunge 9% after CEO steps down https://t.co/ooWASLEn0z
H&M names new CEO as sales keep sliding https://t.co/yjVntG1cSX https://t.co/BY9ZqOh8os