Christos Angelides is set to become the president of Abercrombie & Fitch and Abercrombie Kids.
This change in power hopes to increase the sales and stocks of the two stores, which have been severely lacking recently, and are predicted to continue to go down. According to Dispatch, Abercrombie’s sales have been lacking, specifically overseas, in the first quarter.
Mike Jeffries, CEO and chairman of Abercrombie & Fitch said, “while we are disappointed that European sales trends remain challenging in a very difficult macroeconomic environment, we are largely satisfied with our overall performance for the quarter in that context.”
Despite his optimism for the coming months, based on the numbers so far, it is predicted that Abercrombie stores will be down to single digit percentages by the end of the year. This is not the first time Abercrombie is having trouble, as just last year Jeffries announced his opinions on people who were overweight, and explained that it was the reason he didn’t want them wearing Abercrombie.
Angelides is leaving Next, where he was an executive for the brand, and had worked there for 14 years. He is not the only employee moving on, as the company’s finance director is leaving too.
“Abercrombie & Fitch is a storied brand with global appeal and a clearly defined aesthetic and I am excited to help the brand continue to grow,” said Angelides.
