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,
Hedi Slimane: ‘Maybe I have to start designing again’ (Guardian) “Hedi Slimane won’t talk about fashion. Specifically, he is not to be asked when he will make his return to fashion design. Slimane’s assistant has insisted as much via email, and she is telling me again as we walk down a Brussels backstreet to meet him. ‘He gets asked every day,’ she says. ‘Every day.’” In
Lunch with the FT: Phoebe Philo (FT) “Everyone was looking at me, and competition is fiercer because of what happened with the economy, but I also felt: it’s really not relevant to me what Céline has been or where it has been. It will be whatever I make it for the time I’m there.” Luxury fashion enjoys a rebound, takes no risks (Reuters) “While buyers are slowly returning to the shops in Western Europe and the
American Apparel: The public won’t wear it (Guardian) “[American Apparel] was now a vertically integrated company that seemed dedicated to getting women horizontal. It turns out that, even in the fashion business, there’s such a thing as too much sex.” Burberry: Runway to Checkout (NY Times) “Burberry plans to offer customers a substantial portion of its Prorsum spring 2011 runway collection — to be
Nordstrom Links Online Inventory to Real World (NY Times) “The company wove in individual stores’ inventory to the Web site, so that essentially all of the stores were also acting as warehouses for online. Results were immediate… It also means that inventory is moving faster, and often at higher prices.” The Demand for Emerging Fashion: Part I (Huffington Post) “[The first trend] noticed was brand exhaustion