Abercrombie & Fitch to revamp under new management
Abercrombie & Fitch, the ailing Amercican teen retailer, is expected to shake up its management by creating six new roles. The details are expected to be released this week as part of a strategy to organise executives by brand, rather than solely by product categories.
According to the Wall Street Journal all but one of the new positions will be filled by recently-hired outsiders with the executives reporting to brand president Christos Angelides.
WSJ said.Abercrombie hired executives from Ralph Lauren’s Club Monaco chain, PVC Corp, Kohl Corp and Carter's for the new roles.
Meanwhile, the retailer is still looking for a permanent replacement to fill the CEO post after Michael Jefferies stepped down in December.
Abercrombie's shares rose 15 cents to 19.17 dollars on Monday. The stock is down 33 percent so far this year.