EFF supporters at H&M WATCH the trashing. pic.twitter.com/Kw0xUaG4Cb
The stock is down more than 55% since reaching a high in March 2015.
The market has priced in “extremely low” growth and additional pressure on margins, according to Hernander, who from Stockholm oversees 100 billion kronor ($12 billion) as head of Nordic, Finnish and Swedish equities.
After objections were first raised abroad, H&M apologised for the advert and withdrew the item from its online store. “We strongly believe that racism and bias in any shape or form, deliberate or accidental, are simply unacceptable,” H&M said in a statement.
“We have got this wrong and we are deeply sorry.”
EFF warned that any other store that undermines black people will also be shut down. EFF commander-in-chief Julius Malema made no apology for his fighters' conduct on Saturday, saying their actions should have taught the massive international retailer a lesson. Referring to the slogan on the T-shirt, he said the humiliation of black people should not be allowed to continue. “No one should make jokes about the dignity of black people.”
EFF spokesperson Floyd Shivambu praised the protest on Twitter, claiming H&M was “facing consequences for its racism”.
The EFF have not indicated if there would be further protests at H&M stores.
What is left out in the entire public narrative on #EFFprotest against H&M anti-black racism is that Not Even A Single Item was Stolen or Looted by EFF Ground Forces. How much more peaceful and orderly can a protest be? #Asijiki
We will never be told by any fool on how to fight against our oppression particularly those who have never been at the picket lines. There’s no formula on how you should fight the oppressor, expect more action against all racists, individually and collectively this year. #Siyeza
- BUSINESS REPORT ONLINE