Shares of American Eagle Outfitters fell to a 52-week low on Friday after the company was downgraded on news that Susan P. McGalla, president and chief merchandising officer, will not renew her contract with the company.
American Eagle lost over 12 percent in morning trading, after Roxanne Meyer, retail analyst at Oppenheimer, downgraded the teen retailer to “perform” from “outperform.” In a research note, Meyer cited McGalla’s departure, fashion mistakes and the weak economy as the catalysts for the downgrade.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)