Persson acquires more H&M shares

In the past week Stefan Persson, the chairman of H&M, has purchased shares in the fashion retailer to a value of SKr 2.3 billion. Despite this, the mood on the stock market is sour and H&M shares have tumbled by 32% in the past two years. The reason for the slide is said to be the surge in online sales.

“H&M mainly sells its clothing and accessories in shops, and we are seeing in-store sales drop across Europe due to the increase in online sales,” comments Christopher Lyrhem, SEB share strategist.