While we can't say that Mike Jeffries is completely detached from Abercrombie & Fitch, the (way) outspoken CEO has been stripped of his chairman. And, that's a start. As the NY Post claims today, the reason for this may have to do with the lack of success the brand's been having. But, we suspect there's probably much more to the story than just numbers.
“It seems like it’s a political and respectful way of approaching a CEO issue without saying we’re going to throw you to the curb,” says Simeon Siegel, a Nomura Equity Research analyst. After all, Jeffries was the same CEO who made outrageous comments regarding the exclusivity of his brand. His A&F is one that's for "hot" people only, or at least what Jeffries deems is hot. And, his mean-girl attitude toward anyone who was wearing the label's super-low-rise skinny jeans never really seemed to win him any fans. On the contrary, there were even faux campaigns created called "Attractive & Fat" in response to the narrow- (literal and figurative) minded views that the mall brand became associated with. Now, without its 22-year CEO having as much power as he once did — although still quite a lot — maybe this is A&F's chance to begin a change for the better.(NY Post)