Teen apparel retailer Aeropostale Inc is losing its co-chief executive officer Mindy C Meads after posting a 6% fall in third-quarter profit.

The New York based retailer has named its other co-CEO Thomas P Johnson to the sole CEO post, taking on full responsibility for all areas of the business. Meads is leaving to pursue other interests, but will stay for a short period to ensure a smooth transition, the company said.

The leadership change coincides with a fall in third quarter earnings to $58.5m, down from $62.6m a year earlier. Excluding a charge to cover the chairman's retirement plan payment, profit was flat with last year.

Revenue increased 6% to $602.8m, down from $567.8m a year ago. And same store sales were flat.

For the fourth quarter, the company said it expects to earn $0.94 to $0.96 per share - which is below last year's earnings of $0.99 per share.