Abercrombie & Fitch Says Jeffries Is Retiring as CEO

Michael Jeffries, CEO of Abercrombie and Fitch, has stepped down, leading to a rise in share prices. Arthur Martinez will serve as interim CEO. Jeffries initially led the company to success but later faced controversies, including discrimination lawsuits. The company has struggled to adapt to fast fashion trends, losing its teen audience and experiencing declining sales.

What immediate effect did Michael Jeffries' resignation have on Abercrombie and Fitch's share price?

• It decreased by 7.7%

• It increased by 7.7%

• It remained unchanged

• It decreased by 8.2%

Who is taking over as interim CEO of Abercrombie and Fitch?

• Arthur Martinez

• Michael Jeffries

• Scarlet

• Betty

What controversies did Michael Jeffries face during his time at Abercrombie and Fitch?

• Environmental issues

• Product recalls

• Financial fraud

• Discrimination lawsuits

Which fast fashion brands did Abercrombie and Fitch fail to compete with?

• Topshop and ASOS

• Forever 21 and H&M

• Uniqlo and Gap

• Zara and Mango

What has been the trend in Abercrombie and Fitch's sales as teens moved away from the brand?

• Sales have fluctuated

• Sales have dropped

• Sales have remained stable

• Sales have increased