American Eagle Outfitters Inc.’s stock rose more than 5 percent Wednesday after the teen apparel retailer said fourth-quarter profits rose 46.7 percent and that it was seeking a new chief executive officer.
The company, which has been struggling to stand out on both the price and merchandise fronts in fierce competition with rivals Abercrombie & Fitch Co. and Aéropostale Inc., said ceo James O’Donnell would retire, a move welcomed by a number of analysts. Shares closed at $15.56, up 76 cents, or 5.1 percent.
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)