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 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.
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.
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.
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.
June 3, 2012 |
Ofelia Lopez scrutinizes the hem on a hot-pink shirt fresh off the assembly line, making sure the stitching is just right. All around her, rows of workers rapidly attach sleeves, adhere labels and churn out piles of garments. FOR THE RECORD: The headline in an earlier online version of this article said American Apparel CEO Dov Charney recently talked of importing products. As the article indicated, the company currently has no plans to move operations offshore. What he said was: "At this time our business concept is to make everything here.
July 2, 2009 |
Most companies might shy away from trumpeting their troubles with the law, but not American Apparel Inc. On Wednesday, the Los Angeles manufacturer and retailer known for its racy advertising, colorful clothes and outspoken support for immigration put out a news release to announce that the government had found that about 1,600 of its workers did not appear to be authorized to work in the U.S. About 200 more had been found to have discrepancies in their employment records, the company said.