Abercrombie President Resigns
New Albany, Ohio, Abercrombie & Fitch Co. has announced that president and COO Robert Singer is leaving the company, effective Aug. 31, 2005. Singer, who has been with Abercrombie only 15 months, is leaving due to a difference in approach over the retailer’s plans for international expansion.
“While we are solidifying our plans to expand into Canada and the United Kingdom, our entry into other foreign markets will be at a more deliberate pace,” said Mike Jeffries, chairman and CEO.
Singer’s duties will be taken over by John Lough, executive VP, logistics and store operations, and Mike Kramer, CFO, while an executive search is conducted.
Abercrombie also reported a 24% jump in August same-store sales. Same-stores sales were up 13% at Abercrombie & Fitch stores, 29% at Hollister and 56% at abercrombie, the company’s children’s division.