Retail in Asia

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Abercrombie names merchandising officer, suspends CEO search

Abercrombie & Fitch promoted Fran Horowitz, president of its Hollister brand, to the newly created position of president and chief merchandising officer.

The New Albany, Ohio company also said Tuesday that it has suspended its search for a CEO, a year after former CEO Mike Jeffries left the company.

Abercrombie is in the midst of trying to reinvent its brand. Teen retailers have lost favor with fickle teens who prefer to shop at lower-cost fast fashion stores, such as H&M and Forever 21. Last month, Abercrombie reported better-than-expected third-quarter results as more customers came into the stores after it redesigned the shops and clothes.

(Source: CNBC)