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.
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.
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.
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.
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.
April 6, 2011 |
American Apparel Inc. Chief Executive Dov Charney is shooting down reports that the Los Angeles clothing company is looking for a buyer. "I'm not surprised that there would be interest in the company, and at times, there has been, but it's not accurate," Charney said. "We're not looking, and it's not going to happen. " On Wednesday, a report on private equity online forum peHUB said American Apparel had hired advisor Rothschild to help it explore a potential sale, citing three sources familiar with the matter.
April 1, 2011 |
American Apparel Inc. said sales declined and it lost money in 2010, and it warned that several risk factors this year could force it to seek bankruptcy protection if business doesn't improve. In its 2010 annual report, filed Thursday, the Los Angeles clothing company — currently embroiled in two sexual harassment lawsuits that former employees filed in March — reported sales of $533 million last year, a 4.6% decline from 2009. It also reported a net loss of $86.3 million for 2010 and said it expected an operating loss for 2011.
March 25, 2011 |
Los Angeles clothing maker American Apparel Inc. lashed out Thursday against four former employees who filed a sexual harassment lawsuit against the company and Dov Charney, its chief executive. The company said that the four women were friends who were colluding to "shake down" Charney and the company for money and that it had "voluminous evidence" to prove that the allegations were false. "These allegations are preposterous," said Frank Seddigh, a lawyer for American Apparel.
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.
March 9, 2011 |
American Apparel's brand identity has always been closely linked to its provocative chief executive, Dov Charney. His unconventional, edgy persona helped fuel the Los Angeles clothing maker's swift rise up the retail ladder, turning what began as a gritty wholesale T-shirt operation into a hipster empire known for colorful cotton staples and overtly sexual advertisements, some photographed by Charney himself. But it has also repeatedly landed Charney in hot water, with former employees accusing the 42-year-old founder of crude remarks, a hostile work environment and a promiscuous lifestyle that includes having consensual sex with his employees, according to one of his former lawyers.