Fashion giant H&M has reported a rise in full-year profits and veteran chair Stefan Persson is to stand down after two decades in the role.
H&M posted profit after financial items up 11% to SEK17.39bn on net sales that were also ahead 11% to SEK232.76bn.
H&M also reported that fourth-quarter sales in the UK rose 3%.
Stefan Persson will be succeed as chair by Karl-Johan Persson, who in turn will hand over the reins to Helena Helmersson as chief executive.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.