Teen retailer avoids delisting

Aeropostale announced on Friday that the New York Stock Exchange had accepted the company's plan for continued listing, subject to quarterly review.



The retailer, which has posted two consecutive years of losses, received notice on Oct. 30 that it was not in compliance with the NYSE's listing requirements because average global market capitalization for 30 consecutive trading days was less than $50 million and stockholder equity was less than $50 million. Aeropostale had previously received notice from the NYSE that the closing price of its stock over 30 consecutive trading days had fallen below the $1 minimum.



On Tuesday, the company announced that it plans to eliminate approximately 100 jobs as part of a cost-cutting initiative. It also said that CEO Julian Geiger had voluntarily given up a million stock options, which Aéropostale plans to use to retain other key staff members.