NEW YORK, United States — Two weeks after an unceremonious ouster from American Apparel Inc., Dov Charney has a fighting chance of wresting back control of the clothing retailer he founded 16 years ago -- even as his opponents show no signs of backing down.
NEW YORK, United States — An internal investigation at American Apparel Inc has found that its CEO Dov Charney violated company policies, ranging from misusing company funds to failing to stop the discrediting of at least one former employee who had accused him of sexual harassment, a person close to the matter said.
BoF compiles the most important professional moves of the week.
LOS ANGELES, United States — American Apparel Inc., facing looming debt payments, plans to sell $30.5 million of its common stock, giving the retailer more of a financial cushion to turn around the unprofitable business.
NEW YORK, United States — American Apparel Inc. bondholders hired Houlihan Lokey and Milbank, Tweed, Hadley & McCloy LLP as advisers in preparation for restructuring negotiations with the troubled retailer, two people familiar with the situation said.
NEW YORK, United States — Shorting American Apparel Inc. is back in style. After a period of steady sales growth and a rising stock price, the maker and seller of clothes worn by hipsters worldwide has hit turbulence. The retailer has posted three straight quarterly losses, and preliminary results it released show revenue fell in the most recent quarter.
No longer confined to the fringes of fashion, the goth aesthetic is being mined by a wider spectrum of designers, observes Eugene Rabkin.
LOS ANGELES, United States — American Apparel Inc. said Thursday that revenue in stores open at least a year, a key measure for retailers, rose 8 percent in July.
Prada 9-Months Net Profit Jumps 50% Amid Continued Strong Demand (Dow Jones) “Chief Executive Patrizio Bertelli said Thursday that the company’s business has continued to grow at a rate that has exceeded its expectations in recent months, as the luxury goods purveyor reported a strong rise in nine-month earnings figures amid resilient demand for ultra high-end goods.” Mulberry sees improvements after first-half
Keeping zombies out of the mall (FT) “The Garrard Street mall in Reading, a 40-minute drive from west London, is a warning to developers everywhere. Abandoned and soon to be demolished as part of a broader redevelopment… A lethal combination of thrifty consumers and a commercial real estate slump have turned malls into the walking dead of retail.” Michael Kors 1st-qtr profit rises, raises forecast (Reuters)
Why Was the Designer Raf Simons Dismissed? (NY Times) “You don’t find many galvanizing examples of talent in other creative fields — and it’s hard to imagine an executive taking time on his day off to look at someone else’s runway show. But that’s how talented Mr. Simons is.” Sex in the Saddle (IHT) “What is it about women and horses? A trend toward a coltish look — short, taut jackets, curving jodhpur pants and
China’s Shoppers Sling a Gucci ‘Lifeline’ to Faltering Hong Kong (Bloomberg) “A stream of customers in Tsim Sha Tsui’s Canton Road yesterday carrying bags of Vivienne Westwood, Gucci and Burberry brand products and speaking in Mandarin, showed that a $350 billion decline in the value of stocks in China since mid-April has failed to kill off the tourist trade. Their spending may help to limit what Morgan Stanley and Daiwa
Prada’s Spring Collection Lands 48 Covers (Fashionista) “Last season it was Miu Miu, specifically that one appliqued dress, that kept appearing on cover after cover. This season, Prada’s spring 2011 is sweeping the glossy covers… So far Prada’s colorful stripey bananas collection has seen 48 covers (that we’ve counted) and starred in countless editorials.” He’s Only Just Begun to Fight (NY Times) “To many,