August 15, 2012 |
Los Angeles clothier American Apparel Inc. on Tuesday reported a higher loss in the second quarter despite a bump in sales. For the quarter ended June 30, the retailer reported a net loss of $15.3 million, or 14 cents a share, compared with a loss of $213,000, or flat earnings per share, in the same period a year earlier. Sales totaled $149.5 million, a 13% jump from $132.8 million in the year-ago period. Peter Schey, an attorney for American Apparel, said the bigger loss was mostly attributable to stock warrants, which give investors the right to buy shares at a set price even if the stock soars in value.
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.
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.
November 8, 2011 |
Los Angeles clothier American Apparel Inc. continued to struggle in the third quarter with red ink, but reported a narrower loss and a rise in sales. For the quarter ended Sept. 30, the company reported a loss of $7.2 million, or 7 cents a share, compared with a loss of $9.5 million, or 13 cents, a year earlier. Total sales rose 5% to $140.9 million. Online sales increased 11%. Comparable-store sales, an important barometer of a retailer's health, rose 3%; American Apparel measures comparable-store sales as the combination of online sales and sales at stores open at least a year.
April 23, 2011 |
American Apparel Inc. is getting a desperately needed financial lifeline. A group of Canadian investors has agreed to inject up to $45 million to help the trendy Los Angeles clothier — and its iconoclastic chief executive, Dov Charney — stave off a potential bankruptcy filing. The retailer has been buffeted by declining sales and a sagging stock price — not to mention a public-relations firestorm stemming from sexual-harassment lawsuits filed by former employees against Charney.
July 6, 2011 |
???Two American Apparel Inc. board members have resigned, Chief Executive Dov Charney said. The move was expected after the Los Angeles clothing maker reported last week that it had appointed two new board members, one of them effective immediately, the other effective "upon a future board vacancy. " Charney denied speculation that the two outgoing directors, Mark Samson and Mark Thornton, had been forced out because they disagreed with the company's decision not to file for Chapter 11 bankruptcy protection in the spring during a liquidity crisis.
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.