Abercrombie Hires Kohl’s Crevoiserat as CFO Amid Investor Fight

Abercrombie & Fitch Spring/Summer 2014 | Source: Abercrombie & Fitch

NEW YORK, United States — Abercrombie & Fitch Co., the teen retailer that’s been under pressure from activist investors to shake up management, hired Kohl’s Corp. executive Joanne C. Crevoiserat to be chief financial officer.

…Continue Reading

Abercrombie Plans to Shift Namesake Brand Toward Older Audience

Abercrombie & Fitch Campaign | Source: Abercrombie & Fitch

NEW YORK, United States — Abercrombie & Fitch Co., the teen retailer under pressure from an activist investor to change its management amid sluggish sales, plans to shift its namesake brand to appeal to an older audience.

…Continue Reading

Abercrombie & Fitch 4Q Adj. Profit Beats Street

Abercrombie & Fitch London flagship | Source: Abercrombie & Fitch

NEW Albany, United States — Abercrombie & Fitch's fourth-quarter net income fell 58 percent, dragged down by a number of one-time charges, including costs tied to the closure of the retailer's Gilly Hicks stores. But adjusted profit easily topped Wall Street's expectations and shares jumped more than 8 percent as the company initiated a $150 million accelerated share buyback program.

…Continue Reading

Abercrombie Promotes CFO Ramsden to New Operating Chief Position

Abercrombie & Fitch Campaign | Source: Abercrombie & Fitch

NEW ALBANY, United States — Abercrombie & Fitch Co., the teen retailer that this week separated its chairman and chief executive officer roles, named Chief Financial Officer Jonathan Ramsden to the newly created role of chief operating officer.

…Continue Reading

Teens Flee Abercrombie for Upstarts as Phones Top Malls

Brandy Melville | Source: Brandy Melville

NEW YORK, United States — Teens don’t shop the way they used to. Where young consumers with spare cash once thronged the likes of Abercrombie & Fitch Co. and American Eagle Outfitters Inc. for clothing that telegraphed their identities, the new generation is poorer, shuns logos and socializes more on the Internet than at the mall.

…Continue Reading