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.
McGalla’s contract expires on Jan. 31, 2009. The company will conduct a search for a new chief merchandising officer.
“After 14 very rewarding years with American Eagle, I feel it’s time to move on to new challenges,” McGalla said. “I am grateful for the opportunity American Eagle has presented to me over the years and to such a talented team.”
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)
“Volumes and Graphic Art of the Nineties are the main inspirations of the new Aquilano.Rimondi SS 2018 collection,” said cocreative directors Tommaso Aquilano and Roberto Rimondi. #wwdfashion #mfw #ss18