By DEBRA BORCHARDT
Abercrombie & Fitch Co. named two new brand presidents on Monday. Stacia Andersen has been appointed president ofAbercrombie & Fitch and Abercrombie Kids. Kristin Scott has been named president of the Hollister Co. brand.
Andersen comes to Abercrombie from Target Corp., where she was senior vice president responsible for the retailer’s apparel, accessories and baby businesses. Andersen also led the designer partnerships including Lilly Pulitzer, Joseph Altuzarra and WhoWhatWear. She will begin her new position on or around June 13.
Scott comes to Abercrombie from Victoria’s Secret where she was executive vice president and general merchandise manager. During her time at Victoria’s Secret, she built the sport and swim businesses. The swim business was eliminated in the recent restructuring at the parent company L Brands, which made for perfect timing for Scott to join Abercrombie. Prior to Victoria’s Secret, Scott was a general merchandise manager at Gap Outlet and also worked at Target. She will join the company on August 1.
Both will report to Fran Horowitz, the group’s president and chief merchandising officer. Industry sources said Abercrombie was pleased to have recruited executives of this caliber, adding it isn’t normally easy to find people in retail at this senior level.
“We look forward to welcoming Stacia and Kristin to the team. They are innovative, strategic leaders with extensive experience and records of success across large retail organizations,” said Horowitz. “Both are collaborative, engaging and passionate, aligning with our culture and values. I am confident that both will provide strong, experienced leadership to move our brands forward.”
Herbert Mines & Associates conducted the search, which was completed in two months, an unusually short time for high-level executives.
Abercrombie has seen a lot of change at the executive level in the past few months. Chief operating officer Jonathan Ramsden revealed his resignation at the beginning of May. In December 2015, Christos Angelides resigned from his position as Abercrombie brand president and Horowitz was promoted from Hollister president to chief merchandising officer and group president in a newly created position. Industry sources believe Horowitz will ultimately be named chief executive officer of the company.
Abercrombie will deliver its first-quarter earnings on Thursday. The FactSet estimate is for a loss of 53 cents a share, while the sales estimate is for $709 million. Last year, Abercrombie reported a loss of 53 cents a share and sales of $709 million for the first quarter.
The stock has gained 17 percent over the past year to trade lately at $24.42 as the teen retailer tries to stay strong in the weak apparel environment. Competitor Aéropostale Inc., filed for bankruptcy earlier in the month, while American Eagle Outfitters Inc. seems to be taking market share.