On Monday, teen clothing chain Aeropostale made what seems like a last-ditch attempt to turn around its declining sales and sinking stock. The retailer fired CEO Thomas Johnson and announced the return of former CEO Julian Geiger, who ran Aeropostale from 1996 to 2010. Geiger's more recent gig wasn't exactly a smashing success: he led Crumbs Bake Shop from 2011 through 2013, before the national cupcake chain abruptly closed all its stores and filed for Chapter 11 protection in July. The New York-based casual clothier's Chairperson Karin Hirtler-Garvey described Geiger as "an ideal choice" for the top job."
Aeropostale is reinstating a past leader as it struggles with sliding sales. The New York company said Monday that Julian Geiger, its former CEO, is taking over effective immediately. Thomas Johnson is leaving the board of directors as well as relinquishing the CEO title. Aeropostale and fellow teen stalwarts Abercrombie & Fitch and American Eagle Outfitters have had a difficult time turning their businesses around as mall traffic drops and shoppers’ tastes change. Aeropostale has lost money for six consecutive quarters and predicts another loss for the quarter that ended in early August.
NEW YORK — Many retailers reported solid sales gains for December, but the deep discounts and promotions that shoppers have come to expect cut into profits. A range of retailers, including Target and The Children’s Place, reduced their, reducing their earnings outlooks. Overall, retail sales rose 3.4% at the 22 retailers tracked by the Thomson Reuters same-store sales index, compared with the 3.3% analyst forecast. Some retailers offered steep discounts during the crucial holiday season. Alison Paul, retail sector leader at Deloitte in Chicago, said the chains that spread their discounts out over the season did well, while those
Aeropostale announced that it's expanding its reach to international consumers through a partnership with FiftyOne Global Ecommerce. Consumers in more than 90 countries worldwide can now purchase directly from Aeropostale.com.
Aeropostale promoted a new chief financial officer as it unveiled a number of executive changes, the reshuffling coming after co-Chief Executive Mindy Meads announced her departure earlier this month.