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Controversial Abercrombie CEO Mike Jeffries Leaving the Company

In People, Reports, What's New by Accessories StaffLeave a Comment


New Albany, OH–Abercrombie & Fitch’s controversial CEO Michael Jeffries is retiring, effective immediately. In his place, the company’s board is creating an office of the chairman, led by non-executive chairman Arthur Martinez, who has been made executive chairman. Under Martinez in the office of the chairman will be COO Jonathan …

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A&F Shake Up: Chairman/CEO Position Split, New Directors Added

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New York—Abercrombie & Fifth, once the shinning star of teen retailing that has now fallen on tough times, reported a shake-up today in wake of complaints by major shareholders about the company’s executives. According to today’s announcement, Michael Jeffries, the longtime chairman/ceo, had his chairman’s position removed and Arthur Martinez, …

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Abercrombie Loses Nearly $650 Million in Value After Q2 Profit Dive

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

New Albany, OH—Shares of Abercrombie & Fitch dropped 17.7%–losing some $650 million in value—during trading Thursday after the teen retailer said its second quarter profit plunged 33%. To compound things, the retailer projected its third quarter (back to school) earnings well below forecasts. For the quarter ended August 3, Abercrombie …