Mike Jeffries, the controversial chief executive of US retailer Abercrombie & Fitch, has resigned. The once-popular teen clothing chain has struggled in recent years, as young people's shopping habits have changed.Abercrombie's sales have slipped as teenagers have turned away from its sporty, preppy style towards "fast-fashion" chains like Forever 21 and H&M. Shares in the company have declined by over 22% in the past year as the company has missed earnings forecasts and sales targets. Mr Jeffries has had to apologise for comments which he indicated the retailer's clothes should only be worn by thin and attractive people.
Abercrombie & Fitch Boss Resigns
Abercrombie & Fitch Boss Resigns
