And the answer is…drumroll please…dump the CEO!
It’s almost too simple, right? Abercrombie & Fitch would probably be better off in the long run if they produced some decent clothes or engaged in a little bit of that magic we call “rebranding”—but for now investors seem to think that chief super-douche Mike Jeffries needs to GTFO ASAP.
Unfortunately, BuzzFeed reports that the reason one “activist” Wall Street investor is so done with Jeffries has more to do with falling stock prices than the fact that he’s an idiot with a chronic case of Foot In Mouth Syndrome. The investment firm’s “open letter” is long and tedious if you don’t work in finance, and there’s a bunch of stuff about mismanagement and failed attempts at expansion. But we’ll summarize: Money good. Jeffries bad. Contract ends in February. HINT HINT HINT.
It would be a real shame if the guy who said “Dude, I’m not an old fart who wears his jeans up at his shoulders” could no longer afford to pay models to wear “proper underwear” on his corporate jet, wouldn’t it?