The New York based teen retailer plans to eliminate its corporate headcount as its sales fall. The company also reaffirmed its outlook for the fourth quarter.
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Abercrombie & Fitch Co (ANF.N) Chief Executive Michael Jeffries, who transformed the teen apparel retailer from a drab sports brand into a fashion icon before running afoul of shoppers and investors, has stepped down after over two decades at the helm.
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