Find a list of your saved stories here

Aeropostale is being delisted by the NYSE


1 photo
Save Story

Save stories to read later


Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

NEW YORK (AP) — Trading in shares of Aeropostale, the retailer whose clothes were once ubiquitous in teen closets, was suspended Friday and the New York Stock Exchange will delist the company.

Aeropostale, which once traded above $30, have not breached $1 since September.

The company said Friday that it has no plans to appeal the delisting and will start trading Friday on the OTCQX Best Market under the symbol "AROP."

The New York company early this year said that it would cut expenses by $35 million to $40 million annually and trimmed its corporate staff by 13 percent, about 100 jobs.

Fast fashion" outfits like H&M and Forever 21, with more inexpensive clothes, have emerged in recent years to take a growing market share from Aeropostale, Abercrombie & Fitch and American Eagle Outfitters, stores that were once the energy epicenter of malls across the U.S.

Once worth almost $2.6 billion, Aeropostale's market capitalization by this week had fallen to around $14.4 million.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Photos

Most recent Business stories

Related topics

Business
The Associated Press

    STAY IN THE KNOW

    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the KSL.com Trending 5.
    By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

    KSL Weather Forecast