"H&M CEO Abruptly Quits Amid Disappointing Earnings and Share Tumble"
H&M's CEO Helena Helmersson has stepped down after the company reported a 4% drop in sales for December and January, leading to a 12% decrease in shares. Daniel Ervér, a long-time company veteran, has taken over as CEO, aiming to achieve a 10% operating margin this year. The fashion retailer has struggled to keep up with competitors like Inditex and Shein, and its fourth-quarter operating profit margin fell to 7.2%. Despite the disappointing results, H&M's chairman Karl-Johan Persson remains optimistic about the company's potential for improvement.