ONE OUT, ONE IN: Robert S. Singer, who has served as chief financial officer of Gucci Group since 1995, was named president and chief operating officer of Abercrombie & Fitch succeeding Seth R. Johnson, a 12-year Abercrombie & Fitch veteran, who will be retiring from his position as executive vice president and coo on June 18. Johnson, 50, joined the company as its cfo in 1992, overseeing the company’s 1996 initial public offering and the 1998 spin-off from Limited Brands before being promoted to chief operating officer in February 2000.

THE NARROWING GAP: Gap Inc. took another step toward fiscal fitness Tuesday when Moody’s Investors Service raised its outlook to “positive” from “stable” and upgraded several categories of debt ratings a notch closer to investment grade. In moves that could lower financing expenses for the San Francisco-based specialty store operator, the senior implied credit rating was raised to “Ba1,” one notch below investment grade, from “Ba2” and the senior unsecured debt was elevated to “Ba2” from “Ba3” after a three-month review.

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