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Hennes & Mauritz AB shares declined as the company posted weaker-than-expected sales growth, showing chief executive officer Daniel Erver’s turnaround strategy for the Swedish fast-fashion retailer faces hurdles.
Sales, which edged up 3 percent in local currencies for the fourth quarter, rose by less than analysts had projected during the crucial Christmas trading period, showing the new CEO has challenges ahead. Erver, who took the helm a year ago, has focused on everything from fixing…
