U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding to a record after its biggest loss in a month, as comments from Russian President Vladimir Putin signaled the Ukraine crisis won’t immediately escalate.
Abercrombie & Fitch Co. rose the most in more than a month after posting fourth-quarter profit that topped analysts’ estimates and saying it would buy back $150 million in shares in the current quarter.
Abercrombie & Fitch Co. investor Engaged Capital LLC, which has pushed for the clothing maker to consider putting itself up for sale, nominated five directors to the board, saying the company needs a new strategy.
Abercrombie & Fitch Co., the teen retailer that this week separated its chairman and chief executive officer roles, named Chief Financial Officer Jonathan Ramsden to the newly created role of chief operating officer.
Abercrombie & Fitch Co. separated its chairman and chief executive officer roles almost two months after activist investor Engaged Capital LLC urged the teen- clothing retailer to start a search for a new CEO.
Retailers of all stripes -- from home-goods merchant Pier One Imports Inc. to discounter Family Dollar Stores Inc. and luxury lingerie seller L Brands Inc. -- are providing hard evidence that the discount war that marked the holiday season will take a toll on profit.