Reuters
Nov 16, 2011
American Eagle names Levi's exec CEO
Reuters
Nov 16, 2011
Teen apparel retailer American Eagle Outfitters Inc (AEO.N) named Levi Strauss [LEVST.UL] executive Robert Hanson as chief executive on Tuesday, replacing Jim O'Donnell, who is retiring.
Robert Hanson |
Hanson, 48, had been global president of the Levi's brand.
O'Donnell, 71, announced his decision to retire in March.
American Eagle has been losing market share to peers like Abercrombie & Fitch (ANF.N) and privately held Forever 21.
However, the company reported strong third-quarter sales on Nov. 2, helped by improved merchandise, more targeted promotions and higher online demand.
American Eagle shares are down roughly 6 percent so far this year, while Abercrombie & Fitch shares are about unchanged in the same period. (Reporting by Brad Dorfman in Chicago and Alistair Barr in San Francisco; Editing by Richard Chang and Tim Dobbyn)
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