Investors seem to be pretty pleased — share prices surged Tuesday morning following the news.
But the brand's execs say they're on the right track.
$2.4 million can only be considered bad pay when you were making $48 million two years ago.
After a weak year, Abercrombie & Fitch is looking to add outside brands to its store offerings. Will that be enough to draw shoppers back inside?
Last week, Engaged Capital, an investor in Abercrombie & Fitch, issued a letter urging the company to replace controversy-causing CEO Mike Jeffries when his contract expires in February of 2014. The teen clothing brand hasn't wasted any time responding: It announced Monday that it has extended Jeffries's contract until February 2015.
Abercrombie & Fitch has had its fair share of controversies over the years--masturbating models, over-the-top sexy ad campaigns, and trying to take over Savile Row (to name but a few). But today some information has come to light that is really bizarre. Turns out that Abercrombie's CEO, Michael Jeffries, has some pretty, um, odd and specific rules for his private jet employees, according to Bloomberg. The rules come from a 40+-page flight manual, which is being used as evidence in a discrimination lawsuit filed by a pilot who used to fly Jeffries' private plane, and who alleges he was fired and replaced by a younger man. Here's a sampling of some of the rules on Air Abercrombie: