American Eagle's CEO Resigns Amid Teen Retailers Losing Core Market

Robert Hanson, American Eagle

Photo by Kevin Winter/Getty Images

Robert Hanson.

American Eagle CEO Robert Hanson has resigned, effective immediately.

For now, board chairman Jay Schottenstein will serve as interim CEO, the company said in a news release.

Hanson was considered to be a rising star in the retail industry. Before joining American Eagle, he worked for Levi's.
It's been a tough year for American Eagle and other teen retail competitors like Abercrombie & Fitch and Aeropostale.

The companies have struggled with slowing sales amid competition from fast-fashion chains like Forever 21.

American Eagle recently announced that holiday sales plunged 7% this year.

The company's shares are down 4% in after-hours trading.