By and  on August 19, 2014

Investors drove shares of Aéropostale Inc. up 19.4 percent to $3.87 Tuesday, reacting strongly to Julian Geiger’s return as chief executive officer on Monday.

That marked Aéropostale’s highest close since May 30. Volume traded was 29.4 million shares, nearly 10 times the three-month daily average of 3.1 million.

Aéropostale said Monday that the 68-year-old Geiger would immediately become ceo, succeeding Thomas Johnson. Geiger took a seat on the board back in May, raising speculation that he could again become ceo.

Geiger ran Aéropostale from the time of its spin-off from Federated Department Stores Inc., now Macy’s Inc., in 1998, through its public offering in 2002 and until his retirement from the chain in 2010. The company expanded greatly during Geiger’s tenure but has performed poorly in the last several seasons. The chain is trying to reconnect with its teen base and reestablish its relevancy.

Aéropostale’s jump easily outpaced the WWD Global Stock Tracker, which gained 0.8 percent to $99.70. The chain is not part of the 100-company measure of fashion stock performance.

The top gainers in the tracker were American Apparel Inc., which jumped 9.1 percent to $1.02 after the company projected stronger adjusted earnings ahead, and The TJX Cos. Inc., which rose 8.7 percent to $58.56 after the company beat estimates for the second quarter.

The weakest performance on the tracker came from Elizabeth Arden Inc., which fell 23.3 percent to $15.05 after the said it had agreed to take a $50 million investment from Rhône Group LLC, which could dilute the holdings of other shareholders.

Arden’s drop stood out in what was generally a good day for global markets. New York’s Dow Jones Industrial Average rose 0.5 percent to 16,919.59 as Frankfurt’s DAX led European markets with a 1 percent gain to 9,334.28 and Tokyo’s Nikkei 225 led in Asia with a rise of 0.8 percent to 15,449.79.

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