January 12, 2012 |
Los Angeles clothier American Apparel Inc. said an investigation by the Securities and Exchange Commission into its financial reporting practices had ended without enforcement action. The investigation was sparked in 2010 when Deloitte & Touche resigned as American Apparel's accountant and warned the retailer that its previous audit reports and 2009 financial statements may not be reliable. The SEC told American Apparel this week that the investigation was ending, and no enforcement action was recommended against the retailer, the company said Wednesday.
May 14, 2011 |
Irony-loving hipsters in Los Angeles, grab a Pabst and give a toast to the maker of one of your favorite beers. In moving its headquarters to L.A. this summer from a Chicago suburb, Pabst Brewing Co. will bring one of the older brands in the business to a bruised California that has seen quite a few corporate head offices flee the state. The company, purchased last year for about $250 million by billionaire investor C. Dean Metropoulos, declined to comment about the reasons behind the move or how many local jobs it might create.
April 28, 2011 |
Three former American Apparel Inc. employees who last month sued the Los Angeles company and its chief executive over alleged sexual harassment have filed a new lawsuit alleging defamation. Filed Tuesday in Los Angeles County Superior Court, the latest lawsuit seeks damages for intentional infliction of emotional distress, invasion of privacy and impersonation online. The suit names the company, Chief Executive Dov Charney and a company photographer. In the lawsuit, Irene Morales, Alyssa Ferguson and Tesa Lubans-Dehaven said that after they filed sexual harassment lawsuits in March, fake blogs purporting to belong to them began showing up on the Internet.
May 11, 2011 |
Los Angeles clothier American Apparel Inc. continued to struggle in the first quarter, reporting sales declines and a loss on Tuesday. The clothing maker said total sales for the quarter that ended March 31 were $116.1 million, a 4.7% decline from the same quarter a year earlier. Sales at stores open at least a year fell 8% and online sales rose 28.3%. The company also reported a loss of $20.7 million compared with a loss of $42.8 million in the first quarter of 2010. Chief Executive Dov Charney said the company "achieved several key objectives in the first quarter" and said the results demonstrated early signs of recovery.
July 15, 2012 |
Even as women have moved up the economic ladder and outpaced men in earnings growth over the last decade, they are lagging behind in a crucial area - getting new jobs. Since the recession ended in June 2009, men have landed 80% of the 2.6 million net jobs created, including 61% in the last year. One reason: Male-dominated manufacturing, which experienced sharp layoffs during the recession, has rebounded in recent years, while government, where women hold the majority of jobs, has continued to be hit hard.
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.
December 11, 2010 |
Shareholders elected to keep American Apparel Inc. founder Dov Charney on its board of directors, according to voting results announced at the troubled Los Angeles clothing maker's annual meeting Friday. In recent months American Apparel has been beset by a host of problems including sales declines, losses, problems with its debt and delayed quarterly filings. Two other board members, Mark Samson and Mark A. Thornton, were also reelected. Each will serve a three-year term. Shareholders also approved the ratification of Marcum as the company's independent auditor.
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.