Abercrombie & Fitch names new president in effort to boost sales

Struggling teen retailer Abercrombie & Fitch is one step closer to filling its vacant chief executive job. Fran Horowitz, who has led the company's more successful Hollister brand for the past year, was named on Tuesday to a newly created position -- president and chief merchandising officer -- leapfrogging her chief rival. Christos Angelides, who...