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H&M Soars Despite Inventory Record as CEO Says Worst Is Over

Hennes & Mauritz AB shares jumped as the embattled retailer’s chief executive officer expressed optimism that he’s coming to grips with record apparel backlogs that have hit its profit. H&M’s inventories have been a persistent problem, rising steadily as the Stockholm-based fast-fashion chain failed to keep up with consumers’ tastes and was struck by logistics…

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