Aeropostale (ARO) is bringing back former CEO Julian Geiger in an effort to turn the company’s fortunes around.
Geiger — who previously served as Aeropostale CEO from 1998 to 2010 — will take over Thomas Johnson’s position as CEO. The retailer has been struggling lately, reporting losses for seven straight quarters including a 13% drop in sales for the last quarter.
Aeropostale has failed to reach beyond its core audience, which consists of 14 to 17 year olds. Board chairwoman Karin Hirtler-Garvey issued a statement on the company’s decision to bring Geiger back:
Julian’s previous service in the role of CEO combined with his passion for the Aeropostale brand make him an ideal choice to lead this organization. Julian was the leader of Aeropostale’s strategic direction during a period of significant growth, and we are confident in his enthusiasm for the business, his understanding of today’s teen retail marketplace and his intuition regarding teen fashion.
ARO stock is up about 22.4% Tuesday afternoon.
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