Don’t let Mike Jeffries’ age (he’s 62) fool you. In every way, from the way he carries himself to the way to talks to the way he dresses, Jeffries is undisputably young. As CEO of Abercrombie & Fitch, Jeffries turned a middle-of-the-road apparel company into a multibillion dollar, often-imitated lifestyle brand that sells youth, sex and style. From irreverant, sometimes-controversial marketing to rule-breaking store designs, Jeffries is not afraid to push the envelope. His efforts have kept Abercrombie in a league all its own and given it a coolness quotient that is off the chart with young shoppers.
Jeffries has got all the bases covered, from kids (abercrombie) and high-schoolers (Hollister) to college kids (Abercrombie) and young professionals (Ruehl). And now he’s taking his act to the global stage. The new Abercrombie flagship in London is seen as Jeffries’ opening salvo in European expansion.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.