Hennes & Mauritz AB Chief Executive Officer Helena Helmersson set an ambitious goal of doubling the fast-fashion retailer’s sales by 2030 after she reduced discounts and started clearing out the company’s longstanding inventory buildup.
Helmersson, who started leading H&M at the start of the pandemic, is also targeting an operating margin of more than 10% within three years. She was brought in to replace the grandson of H&M’s founder in January 2020 and started off by reducing the Swedish company’s store count. The stock rose as much as 7.4% Friday and later gave up some of those gains.
