Aeropostale Inc. (ARO) promoted a new chief financial officer as
it unveiled a number of executive changes Tuesday, the reshuffling
coming after co-Chief Executive Mindy Meads announced her departure
earlier this month.
The teen-apparel retailer's current financial chief, Michael
Cunningham, who also is the company's president, will be "expanding
his role" and taking additional responsibilities over planning and
allocation, construction, logistics and real estate. He will remain
in charge of finance organization, investor relations and
information technology.
Aeropostale's new CFO, Marc Miller, will report to Cunningham.
Previously, Miller was senior vice president of strategic planning
and new business development at Aeropostale, where he has worked
since 2005. Before that, he worked at Footstar Inc. (FTAR).
In addition, Aeropostale gave its chief stores officer, Mary Jo
Pile, some new responsibilities.
Meads and her co-chief executive, Thomas Johnson, jointly took
the company's top post at the start of the fiscal year in February.
Before that, Johnson had been chief operating officer and Meads had
been chief merchandising officer. Johnson is currently the
company's sole chief executive.
Aeropostale's results through the recession were strong, unlike
most those of other mall-based chains, as it stood out as a
lower-priced alternative to rivals such as Abercrombie & Fitch
Co. (ANF). It is, however, facing stiffer competition as more
retailers discount their goods to woo shoppers and as clothes are
increasingly battling against gadgets such as iPhones for teen
dollars.
Its outlook for the current quarter was weak when the company
reported its latest quarterly results at the beginning of the
month, which Cunningham at the time said was cautious to give the
retailer room to promote more, if needed.
Aeropostale shares were down a penny at $24.93 in after-hours
trading.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com