Tags: Aeropostale | Geiger | CEO | Johnson

Aeropostale Brings Geiger Back as CEO, Replacing Johnson

Monday, 18 Aug 2014 06:14 PM

Aeropostale Inc., the struggling retailer with more than 1,000 teen and children’s apparel stores, said Julian Geiger has returned as chief executive officer, replacing Thomas Johnson.

Johnson and the board agreed that he would step down as CEO and as a director, the New York-based company said Monday in a statement. Geiger served as Aeropostale’s CEO from 1996 to early 2010 and was the top executive at Crumbs Bake Shop Inc., the cupcake chain that shuttered its stores last month, from late 2011 through 2013.

Johnson had been trying to turn around the retailer after six straight quarters of losses and in April said the company would close about 125 of its P.S. kids-focused stores, cutting about 100 jobs. The chain also entered a strategic partnership with Sycamore Partners in March while receiving a $150 million loan as activist investors press for bigger changes, including a possible sale of the company.

Aeropostale also said Monday that its second-quarter operating loss was $36 million to $38 million, smaller than its previously forecast loss of $49 million to $54 million. The company plans to report full second-quarter results on Aug. 21.

The shares were unchanged at $3.24 at 4:38 p.m. in late trading in New York. Aeropostale slid 64 percent this year through the close of regular trading Monday.

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Aeropostale Inc., the struggling retailer with more than 1,000 teen and children's apparel stores, said Julian Geiger has returned as chief executive officer, replacing Thomas Johnson.
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2014-14-18
Monday, 18 Aug 2014 06:14 PM
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