Michael Rempell is moving on after a long run at American Eagle Outfitters Inc.
The chief operations officer, who joined the specialty retailer 23 years ago, has decided to step down early next year “to pursue personal interests and spend more time with his family,” according to the company.
Rempell got a warm send-off from his longtime boss, Jay Schottenstein, executive chairman and chief executive officer, and seems to be leaving on something of a positive note as the company also boosted its second-quarter guidance.
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“For over two decades, Michael has been a valuable member of our executive team and I am grateful for his numerous contributions,” Schottenstein said. “He has been a strategic leader and instrumental in taking the company from $1 billion to over $5 billion in revenue, investing in technology and infrastructure that created AEO’s world class operations and made us an innovator in our space.”
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Rempell said: “This decision did not come easily. AEO is a wonderful company and has been a home away from home, where colleagues have become lifelong friends.”
Over his career at American Eagle, Rempell also served as chief information officer and chief supply chain officer and in his current role leads all aspects of the global supply chain, from production and sourcing to logistics and distribution.
American Eagle, which also owns the Aerie business, said the second quarter is coming in stronger than expected.
Revenues are seen as roughly flat to last year, instead of the low-single-digit decline previously projected. Operating income is set to come in higher than the $25 million to $35 million forecast.
Schottenstein said that “demand picked up in late June, with strength continuing as we introduced our initial fall collections in July, reflecting newness centered on emerging trends across our brands.”
“Looking to the second half of the year, we remain focused on building our category leadership and creating unique customer connections, while maintaining a sharp eye on improved profit flow through,” he said.