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A surging American Eagle Outfitters names CEO — finally
Everything old is new again at American Eagle Outfitters, apparently with good reason.
The teen apparel retailer on Wednesday named Jay L. Schottenstein as CEO, effective immediately. Schottenstein, who has served as interim chief since January 2014, will also continue in his role as executive chairman of the board. The news of his appointment came as the retailer reported a strong increase in its third quarter earnings. It was the chain’s third consecutive quarter of increased sales and profits.
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Retailers give thanks for Cyber Week
Despite a few hiccups with site availability, Cyber Week 2015 on the whole was a huge success for the retail industry and bodes well for the remainder of the holiday season.
According to data from Adobe, from Thanksgiving Day through Cyber Monday, consumers spent $11 billion online. This marked a 15% increase from Cyber Week in 2014 and represented 30% of a total $39.5 billion in November online sales. Adobe predicts consumers will spend $1 billion a day online every day from Dec. 1- Dec. 18.

