H&M sales in the Dec. 1 to Jan. 27 period were down 23 percent in local currencies compared with the same period last year.

The executive replaces Kristina Stenvinkel, who will work for the Persson family company.

“This is a small step on a long journey,” said H&M executive Hanna Lumikero.

“In a somewhat more normalised environment, store sales have recovered strongly,” Inditex said.

A recovery in activity at the start of the quarter was cut short by a second wave of lockdown measures.

The collection includes ample, double-breasted suit jackets with puffed sleeves and flower printed dresses in pale pink and black.

The international effort will call for innovation, development and analysis to try to expedite circular fashion.

The executive was most recently regional country manager of production in Europe and head of global quality strategy and compliance.

Investors include H&M Co:Lab, the venture capital arm of the H&M Group.

“More good news for Q3,” said Richard Chamberlain of RBC Europe.

H&M recorded a 16 percent decline in third quarter sales, but said it expects to post a profit in the third quarter.

France has the highest female representation at 46.4 percent for companies on the CAC 40.

The Swedish retailer will speed up store closures while reducing planned openings, leading to a net decline of 40 this year.

H&M and Inditex have both signaled improving sales but does the secondhand market pose a threat to the retailers? 

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