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From bare-chested models to the scent of cologne emanating from its stores, Abercrombie & Fitch has left a mark on modern retail. Yet after raising the brand to great heights in the 1990s, CEO Michael Jeffries is stepping down following a recent drop in sales.
"It has been an honor to lead this extraordinarily talented group of people," Jeffries said in a statement. "I believe now is the right time for new leadership to take the company forward in the next phase of its development."