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.
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.
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.
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.
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.
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.