August 31, 2011 |
A group of Canadian investors is looking to sell its shares in Los Angeles clothier American Apparel Inc. just four months after investing $15 million to help rescue the company. American Apparel said in a regulatory filing that the group, led by Canadian financier Michael Serruya, could sell up to 43.2 million shares of common stock. "We do not know when or in what amount the selling stockholders may offer the shares for sale," American Apparel said in the filing Tuesday.
April 3, 2008 |
In a move to put a new spin on a sore subject, American Apparel Inc. is opening stores in China this spring, stocking them with T-shirts, shorts and hoodies made in downtown Los Angeles. Talk about swimming against the tide: A third of the clothes sold in the U.S. come from China. Just 6% of the things we wear are made here. Whether the Chinese will warm to American Apparel's logo-free, no-glitz offerings as they have to loftier brands -- such as Louis Vuitton and Gucci -- and to trendy lower-priced fashions is a big unknown.
August 10, 2011 |
American Apparel Inc. had a narrower loss and improved sales in its second quarter, the Los Angeles clothing maker and retailer said in an updated earnings filing. For the three months that ended June 30, the company reported a loss of $213,000, or flat earnings per share, compared with a loss of $14.7 million, or 21 cents, in the year-earlier period. Sales were flat overall and at stores open at least a year. The latter measure, known as same-store sales, is considered an important gauge of a retailer's health because it excludes store openings and closings.
August 30, 2011 |
When author Robert Greene wrote his bestselling book "The 48 Laws of Power," his win-at-all-costs message turned him into a cult hero with the hip-hop set, Hollywood elite and prison inmates alike. Crush your enemy totally, he wrote in Law 15. Play a sucker to catch a sucker, he said in another. Get others to do the work for you, but always take the credit. Greene's warrior-like take on the quest for power, written more than a decade ago, would eventually attract another devotee: Dov Charney, the provocative and sometimes impish chief executive of Los Angeles clothing company American Apparel Inc. The 52-year-old Greene — a former screenwriter who speaks five languages and worked 80 jobs before writing "The 48 Laws" — has become Charney's guru, a trusted confidant to the 42-year-old entrepreneur and, insiders say, a voice of reason on American Apparel's board of directors.
March 10, 2011 |
A New York judge has temporarily halted a $250-million sexual harassment lawsuit brought by a former employee against Dov Charney, the controversial chief executive of American Apparel Inc. The ruling came in response to a motion filed Wednesday by the Los Angeles clothing maker that contended that the issues raised by Irene Morales' lawsuit should be settled in confidential arbitration and not at trial. She alleged in her lawsuit that Charney forced her to perform oral sex in his New York apartment in 2008, when she was 18, and that he sexually harassed her for months, including demanding that she send him explicit photographs, e-mails and text messages.
September 2, 2012 |
VF Corp., one of the world's largest apparel companies, will move the headquarters of its Splendid and Ella Moss clothing lines to a historic industrial complex in downtown Los Angeles. The clothier agreed to lease 80,000 square feet in Alameda Square near the intersection of Alameda Street and Olympic Boulevard, said real estate broker John Zanetos of CBRE Group Inc. The 10-year deal is valued at about $18 million. VF will convert raw warehouse space into offices in preparation for a move early next year.
August 11, 2010 |
Troubled clothing firm American Apparel Inc. said Tuesday that its second-quarter sales probably fell compared with a year earlier and that it expected to report a loss. In a filing with the Securities and Exchange Commission, the Los Angeles company also said that it was "unable, without unreasonable effort and expense," to file its quarterly report on time for the three months that ended June 30. The company blamed its weak total sales on a decrease in retail sales, although it didn't provide specific figures.
October 2, 2010 |
Beleaguered Los Angeles clothing maker American Apparel Inc. said Friday that it had amended its debt agreement with Lion Capital, helping it avoid violating the terms of its loan. The London-based private equity firm is also working with American Apparel to realign its capital structure, including hiring several new senior executives. "We wholeheartedly support the company's 'Made in USA' philosophy under which 7,000 industrial workers in downtown Los Angeles are paid a fair wage," Lyndon Lea, Lion Capital founder and partner, said in a statement.
December 30, 2008 |
If you're nursing a market-average 40%-or-so loss in your stock portfolio in 2008, just remember: It could have been worse -- much worse. The destruction in the stock market this year was notable not just for its breadth but for the number of huge companies whose shares were reduced to so much rubble. The banking, brokerage and mortgage sectors led the Fall of the Titans, of course. Some of the biggest names in the financial industry wound up either in bankruptcy (Lehman Bros.
May 11, 2012 |
Los Angeles clothier American Apparel Inc. reported a narrower financial loss and improved sales in its first quarter of 2012, but it continued to struggle. For the quarter that ended March 31, the retailer reported a loss of $7.9 million, or 7 cents a share, an improvement from the loss of $20.7 million, or 28 cents a share, a year earlier. Sales totaled $132.7 million, a 14% jump from $116.1 million in the year-earlier period. "We're beginning to see the results of greater efficiency in merchandise planning, systems for delivery to markets and inventory control," said Peter Schey, a lawyer for American Apparel.