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.
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.
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 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.
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.
September 3, 2009 |
Hundreds of American Apparel Inc. workers must leave the company because they were unable to prove their immigration status or fix problems with their employment records, the company said Wednesday. The terminations come two months after the Los Angeles manufacturer and retailer announced that a government inspection had found that about 1,600 of its workers didn't appear to be authorized to work in the U.S. About 200 more had been found to have discrepancies in their employment records.
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.
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.