Singer makes way for Abercrombie top order changes
30 Aug '05
3 min read
Leading specialty retailer Abercrombie & Fitch Co announced that Robert S. Singer, President and Chief Operating Officer, would be leaving the Company effective August 31, 2005.
Chairman and Chief Executive Officer Mike Jeffries stated, "They appreciate the significant contributions Bob made during his fifteen months with us. He helped the Company focus on many important areas of their business, and they believe that his accomplishments will make the transition in leadership quite smooth.
However, there was a difference in approach to the timing and extent of their expansion into certain international markets. While they are solidifying plans to expand into Canada and the United Kingdom, our entry into other foreign markets will be at a more deliberate pace.
"Bob's duties will be assumed by two of their current senior managers, John Lough, Executive Vice President of Logistics and Store Operations, and Mike Kramer, their CFO, who will take on the financial aspects of the COO's position."
"My time with Abercrombie & Fitch has been an extraordinary experience. I will miss the many wonderful and talented people here, and wish them the greatest future success," said Singer.
The Company also announced that it has retained Egon Zehnder to locate a President and Chief Operating Officer.
Abercrombie & Fitch Co also today reported net sales of $287.4 million for the four-week period ended August 27, 2005, a 36 percent increase over last year's August sales of $212.1 million. August comparable store sales increased 24 percent compared with the four-week period ended August 28, 2004.
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