Geneva — Hennes & Mauritz (H&M) CEO Helena Helmersson is getting tough in her first year running the Swedish fashion retailer, announcing plans to reduce the store count by 5% next year.
The CEO is making H&M’s biggest retrenchment as the pandemic worsens its record inventory build-up. The retailer said on 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%...
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