Aeropostale Cutting Jobs as Sales Slump

Teen retailer Aeropostale says it's cutting costs and jobs amid a years-long sales slump. The New York company said Tuesday it expects to cut expenses by $35 million to $40 million a year starting in fiscal 2016, and will slash its corporate staff by 13 percent, or 100 jobs, by the end of January. CEO Julian Geiger is also giving back 1 million stock options so Aeropostale can give them to other employees in an effort to keep them with the company.