New H&M boss Daniel Ervér faces pricing dilemma in fight to win back customers

LONDON (Reuters) – The new boss of H&M faces a thorny dilemma: increase prices and lose more ground to budget online fast-fashion rival Shein, or cut prices and risk profit margins falling short of target. Daniel Ervér, 42, took the reins at H&M on Wednesday after Helena Helmersson quit in a surprise announcement that sent the company’s shares down more than 10%. At the same time, H&M said sales continued to fall over the key holiday trading months of December and January, raising questions about how much revenue the retailer is sacrificing in pursuit of a higher profit margin. “What we think they’ve been doing is raising their prices quite aggressively across different markets – obviously you can do that,…