Michael Rempell is shifting on after a long term at American Eagle Outfitters Inc.
The chief operations officer, who joined the specialty retailer 23 years in the past, has determined to step down early subsequent yr “to pursue private pursuits and spend extra time along with his household,” in keeping with the corporate.
Rempell obtained a heat ship off from his longtime boss, Jay Schottenstein, govt chairman and chief govt officer, and appears to be leaving on one thing of a optimistic be aware as the corporate additionally boosted its second-quarter steering.
“For over twenty years, Michael has been a worthwhile member of our govt group and I’m grateful for his quite a few contributions,” Schottenstein stated. “He has been a strategic chief and instrumental in taking the corporate from $1 billion to over $5 billion in income, investing in expertise and infrastructure that created AEO’s world class operations and made us an innovator in our area.”
Rempell stated: “This determination didn’t come simply. AEO is a superb firm and has been a house away from residence, the place colleagues have grow to be lifelong associates.”
Over his profession at American Eagle, Rempell additionally served as chief info officer and chief provide chain officer and in his present function leads all elements of the worldwide provide chain, from manufacturing and sourcing to logistics and distribution.
American Eagle, which additionally owns the Aerie enterprise, stated the second quarter is coming in stronger than anticipated.
Revenues are seen as roughly flat to final yr, as a substitute of the low-single-digit decline beforehand projected. Working revenue is ready to return in greater than the $25 million to $35 million forecast.
Schottenstein stated that “demand picked up in late June, with energy persevering with as we launched our preliminary fall collections in July, reflecting newness centered on rising traits throughout our manufacturers.”
“Trying to the second half of the yr, we stay targeted on constructing our class management and creating distinctive buyer connections, whereas sustaining a pointy eye on improved revenue move by,” he stated.