The Swedish fast fashion retailer Hennes & Mauritz on Wednesday reported a return to profitability for the fourth quarter, as costs and expenses declined and sales rose. In addition, the group has appointed Daniel Erver as new chief executive officer. For three-month period, the company reported a net profit of SEK 1.576 billion ($151.5 million) or SEK 0.97 per share, compared with a loss of SEK 864 million or SEK 0.53 per share, posted for the same period a year ago. Earnings after financial items stood at SEK 3.916 billion as against last year’s SEK 463 million. Operating profit surged to SE…