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.
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.
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.
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.
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.
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.