DOCSLIB.ORG

The Never-Ending Sales Season by Andrew Asch Retail Editor for U.S

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Never-Ending Sales Season by Andrew Asch Retail Editor for U.S NEWSPAPER 2ND CLASS $2.99 VOLUME 71, NUMBER 24 JUNE 5–11, 2015 THE VOICE OF THE INDUSTRY FOR 70 YEARS The Never-ending Sales Season By Andrew Asch Retail Editor For U.S. retailers, it has been sales time all the time. Since the beginning of the year, retailers have offered gen- erous promotions to attract more customers after a holiday re- tail season that underwhelmed Wall Street. The never-ending retail beat of sales and promotions has retailers and analysts asking if paying full price for clothing is a thing of the past. “It has done a disservice,” said Liz Pierce, a senior vice president and senior research analyst at Brean Capital LLC, a financial services firm headquartered in New York. “What is the real price of an item? What is the fair price? It is a concern industrywide.” The incessant pace of promotions for the past couple of years has been blamed for cutting into vital margins for busi- ➥ Promotions page 2 Paula Schneider Outlines Plan for Turning Around American Apparel By Deborah Belgum Senior Editor When Paula Schneider took over as the new American Apparel chief executive, she didn’t think the job would be so contentious. But as soon as she landed at her desk five months ago, the company was bombarded with a number of lawsuits filed by former CEO Dov Charney, who founded the com- pany more than 15 years ago but was fired in December for allegedly misusing company funds and failing to stop defamatory blog posts by a former employee. (Charney denies the charges.) Shareholders and former employees have also filed lawsuits against American Apparel in vari- ous courts or lodged complaints with the National Labor Relations Board. On June 1, American Apparel was granted a request for ➥ American Apparel page 4 INSIDE: Where fashion gets down to business SM 6 8 Kayne West turns out for LA Trade- Showroom Profiles ... p. 16 So Cal Style Tech Fashion Show ... p. 6 Fashion District Resources ... From downtown Los Angeles to Venice Beach to Palm Springs, Southern Californians have Activewear Special Section ... p. 8 p. 20 their own take on fashion, from runway-ready high-end looks to street-savvy sportswear. New CEO for True Religion ... p. 11 Finance Resources ... p. 20 For a look at So Cal street style, see pages 12 and 13. New Lines ... p. 14 Activewear Resources ... p. 21 www.apparelnews.net TIM REGAS@WHERESMYDRIVER 01,2,4.cover.indd 1 6/4/15 6:48 PM NEWS Los Angeles Underwear Importer Pleads Guilty to Drug-Money Laundering Nine months after agents busted a long- learning the truth about the money. The im- Chen’s son, Chuang Feng Chen, known up in a plan that helped Mexican cartels sell- running Mexican drug money–laundering porter acknowledged that on three occasions as Tom, also pleaded guilty to conspiracy to ing drugs in the United States launder their operation in the Los Angeles Fashion Dis- he accepted bulk cash as payment for apparel passing false documents through a U.S. cus- money and bring it back to Mexico. trict, an underwear importer has pleaded from an undercover agent posing as someone tom house. Last September, about 1,000 federal and guilty to several offenses linked to the with links to narcotics traffickers. As part of the case, the Chens have agreed state agents fanned out across the Los An- scheme. Chen also pleaded guilty to a customs of- to forfeit to the United States proceeds from geles Fashion District to crack down on the Xilin Chen, owner of Yili Underwear and fense when he claimed in a form filed with the sale of their building, which houses their operations. The raid of 75 fashion and textile Gayima Underwear, pleaded guilty in U.S. the U.S. Customs and Border Protection that underwear company; two houses in Temple businesses yielded cash and property sei- District Court to three felony accounts: know- he was importing apparel from China worth City, Calif.; and more than $435,000 seized zures totaling more than $140 million. ingly passing false documents through a U.S. $86,635 when the true value was pegged at by federal agents last fall. The companies are being accused of tak- custom house, conspiracy to launder money $175,535. As part of the agreement, prosecutors ing cash payments from drug-cartel agents, and unlawful procurement of citizenship. The Chinese immigrant also pleaded guilty have asked U.S. District Judge Percy Ander- using that money to import garments from In a plea agreement filed with the federal to illegally procuring citizenship in 2012, son to dismiss charges against Xilin Chen’s overseas and then shipping them to Mexico, court in Los Angeles on May 29, Chen ac- when he declared he was not involved in daughter, Aixia Chen. where they were sold in stores for pesos. knowledged he received bulk-cash payments criminal activity even though he was involved The Chens, due to be sentenced Aug. 24, This system of converting dollars into pesos at his business that he had reason to believe in customs fraud and money laundering. As were just a few of the Los Angeles apparel- is called trade-based money laundering. were from illegal drug activities but avoided a result, Chen will lose his U.S. citizenship. industry people accused of being wrapped —Deborah Belgum Promotions Continued from page 1 “When you get to end of season, in some been difficult to compete. is blamed for keeping people away from shop- cases, especially when the company is strug- ping districts. He suggested that distortions nesses. It has contributed to declines in sales gling, BOGO half-off has become BOGO Excess inventory from macro-factors such as weather and port and the shuttering of once-strong teen retailers free,” Pierce said. delays have the potential to ease in the second such as Dots and Delia’s and has forced some Pierce noted that many retailers plan for the The state of heavy promotions has taken half of 2015, alleviating pressures on retailers retailers, such as The Wet Seal Inc., to reorga- BOGO sales and manage to make their mar- place during especially challenging times for to promote as aggressively. nize and change their business strategies. gins. Yet when generous BOGO deals are a fashion retailers in 2015, said Jeff Van Sin- Kitson, an independent multi-brand retailer The call of the sale is well represented frequent part of the retail landscape, she said, deren, a senior analyst with B. Riley & Co. headquartered in Los Angeles, produced a Me- across the board in the retail market. Major it makes consumers blasé about any promotion LLC in Los Angeles. Labor disputes in West morial Day sale that featured discounts such retailers such as Macy’s Inc. offer frequent retailers offer. “What do you have to pull out Coast ports resulted in a lot of merchandise as 25 percent off of the high-end men’s Ma- promotions. A recent Macy’s Super Saturday of a hat to get them interested if you BOGO 50 being delivered a week or two late to retail- son’s brand and an additional 25 percent off of sale, announced on May 29, found Macy’s percent off every day? What are you going to ers. Retailers with already heavy inventory are other sale merchandise. Kitson founder Fraser Men store offering 25 percent to 65 percent off do to excite them during key times?” she said. forced to put these late items on sale to make Ross said another reason for the state of con- full price. Pierce traced the current promotional cli- room for Pre-Fall and Back-to-School deliver- stant sales is a way to compete with the lure of During a Memorial Day weekend trip to mate as rooted in The Great Recession. But ies. fast fashion, which built a business on selling Northridge Fashion Center, more than 27 a state of frequent and seemingly permanent “You have a lot of merchandise, and it has to clothes at low prices. miles northwest of downtown Los Angeles, promotions started in earnest in 2013. She go somewhere. The retailers don’t have much His reaction to unceasing sales has been to nearly every specialty retailer seemed to be contends that the lure of technology, especially choice but to aggressively mark it down and further diversify his business. Over the past few offering variations of BOGO deals (“buy one, smartphones and their corresponding data promote it,” he said. years, Kitson has increased its business in cat- get one free”). A typical promotion for many plans, is competing for dollars that in the past Van Sinderen contended that the 2015 pro- egories that are not as affected by markdowns, specialty retailers was “buy one, get 50 percent were probably spent on apparel. Without any motions are about even with the previous year, such as apothecary and novelties. “You got to off of another one.” key trends and must-have items, she said, it has the process just looks frenzied because there merchandise where markdowns are not so ram- is a lot of inventory, and cold weather in the pant. You only got six weeks before something first half of the year across the United States goes on promotion,” he said. ● CalendarCalendar June 4 Lady Liberty Building Los Angeles Primrose Design Building Through June 10 “Take It to the Next Level: The Academy Awards Building Ideal Retail Experience” Los Angeles June 9 Old Ranch Country Club Through June 11 Seal Beach, Calif. Licensing Expo Designers and Agents Mandalay Bay June 5 The New Mart Las Vegas Through June 11 NAWBO-LA’s 29th Leadership & Los Angeles Legacy Awards Luncheon Through June 10 “How to Gain the Attention of JW Marriott (LA Live) Select Investors” webinar by Fashion Los Angeles Transit Business Inc.
Load more

Recommended publications
  • UNIVERZITA KARLOVA V PRAZE Fotografické Strategie Společnosti
    UNIVERZITA KARLOVA V PRAZE FAKULTA SOCIÁLNÍCH VĚD Institut komunikačních studií a žurnalistiky Katedra žurnalistiky Jan Červenka Fotografické strategie společnosti American Apparel Bakalářská práce Praha 2015 ‚ Autor práce: Jan Červenka Vedoucí práce: doc. MgA. Filip Láb, Ph.D. Oponent práce: Rok obhajoby: 2015 Hodnocení: ‚ Bibliografický záznam ČERVENKA, Jan. Fotografické strategie společnosti American Apparel, Praha, 2015. Počet s. 45 Bakalářská práce (Bc.) Univerzita Karlova, Fakulta sociálních věd, Institut komunikačních studií a žurnalistiky, Katedra žurnalistiky. Vedoucí bakalářské práce doc. MgA. Filip Láb, Ph.D. Abstrakt Předmětem práce je analyzovat fotografické strategie oděvní společnosti American Apparel v letech 2011 – 2015 a její současné reklamní strategie. V teoretické části práce se text zaměří na principy reklamní fotografie a popíše historii fotografie módní. Dále zmíní práce fotografů, kteří se ve svém životě věnovali atypickým reklamním strategiím. Obsahem další části práce je přehled vzniku a vývoje společnosti American Apparel a jejího zakladatele Dova Charneyho. Na základě textů teoretika obrazu Roland Barthese a metod popsaných v knize Metody výzkumu médií od Trampoty a Vojtěchovské, aplikuje autor práce své poznatky na kvantitativní i kvalitativní výzkum již zmíněných reklamních fotografií. Stěžejním výstupem práce je právě kvalitativní analýza, jejíž předlohou se stal Barthesův text Rétorika obrazu. Abstract The aim of this thesis is to analyse American Apparel’s photographical strategies and its advertising tendencies in the years 2011 – 2015. In the theoretical part of this thesis, the text will cover the principals of advertising photography and will briefly describe the history of fashion photography. Also it will mention the work of famous photographers who have worked with atypical visual methods in the past.
    [Show full text]
  • Dov Charney's American Dream Audio Part 3: Photos Https
    Dov Charney’s American Dream Audio Part 3: Photos https://gimletmedia.com/episode/part-3-photos-season-4-episode-6/ Part 4: Boundaries https://gimletmedia.com/episode/part-4-boundaries-season-4-episode-7/ Part 5: Suits https://gimletmedia.com/episode/part-5-suits-season-4-episode-8/ Part 6: Anger https://gimletmedia.com/episode/part-6-anger-season-4-episode-9/ Part 7: MAGIC https://gimletmedia.com/episode/part-7-magic-season-4-episode-10/ Host: Lisa Chow ​ Senior Producer: Kaitlin Roberts ​ Producers: Bruce Wallace, Luke Malone, Molly Messick ​ Associate Producer: Simone Polanen ​ Editors: Alex Blumberg, Alexandra Johnes, Caitlin Kenney ​ Audio Engineers: Andrew Dunn, David Herman, Martin Peralta, Dara Hersch ​ 2 Episode Transcripts Part 3: Photos DOV: Look how cool that is, that metro thing. C’mon that is cool. Isn’t it? LISA: Oh yeah! There’s a metro stop right on a highway? DOV: Yeah, this is LA, dude. Get with the program. LISA: Hello. From Gimlet Media, this is StartUp. I'm Lisa Chow. And once again, I’m sitting in the car with the ex-CEO of American Apparel Dov Charney. And just a quick warning, there’s some swearing in this episode … and some sexual content. DOV: This is an interesting mural that I’m going to shoot now since we’re in traffic. That’s a good one. LISA: Dov’s taking photographs while driving. This happens all the time. Something catches his eye — a mural or an old sign or a storefront — and he has to get the shot. So he rolls down the window, grabs his phone, and stretches out both hands…and totally forgets about the steering wheel.
    [Show full text]
  • BATTLE of the APPS Banana’S New Flagship Beauty-Booking Apps Are Quickly Overpopulating the Rapidly Expanding Mobile Universe in Cyberspace
    ADIDAS KENDALL’S STEPS UP CALVINS KENDALL JENNER IS THE TOKYO TALES THE STRUGGLING GERMAN FACE OF THE LATEST AD MIUCCIA PRADA MINGLED WITH REI KAWAKUBO, ACTIVEWEAR BRAND OUTLINES AN CAMPAIGN FOR CALVIN RAF SIMONS AND MORE AT A MIU MIU EVENT AGGRESSIVE FIVE-YEAR PLAN TO KLEIN JEANS. PAGE 4 IN THE JAPANESE CAPITAL. PAGE 11 GET BACK TO GROWTH. PAGE 2 FROM DOV TO SEC No End To The Woes At American Apparel By EVAN CLARK AMERICAN APPAREL INC. is teetering on the edge of chaos. And if that in itself is nothing new, this time around the retailer’s facing an unusually thorny set of challenges on multiple fronts: ■ Ousted founder Dov Charney continues to stir up FRIDAY, MARCH 27, 2015 ■ $3.00 ■ WOMEN’S WEAR DAILY trouble, from agitating an already disgruntled work- WWD force to seeking a backer to buy the fi rm, moving ahead with arbitration and, tonight, appearing on ABC’s “20/20.” ■ Fourth-quarter losses widened as sales fell more than 9 percent and workers are being furloughed at the Los Angeles factory. ■ The brand is being reimagined with more of a social emphasis and some of the scantily clad sales associates long featured in its ads will be replaced with models. ■ Shareholders have sued the company, claiming it failed to maintain control of its colorful founder. Under Charney, American Apparel honed contro- versy to a high art and lurched from one loan with a sky- high interest rate to the next — always keeping just a step ahead of both the debt collector and Miss Manners.
    [Show full text]
  • Sexual Harassment and Corporate Law
    University of Chicago Law School Chicago Unbound Journal Articles Faculty Scholarship 2018 Sexual Harassment and Corporate Law Daniel Hemel Dorothy Shapiro Lund Follow this and additional works at: https://chicagounbound.uchicago.edu/journal_articles Part of the Law Commons Recommended Citation Daniel Hemel & Dorothy Shapiro Lund, "Sexual Harassment and Corporate Law," 118 Columbia Law Review 1583 (2018). This Article is brought to you for free and open access by the Faculty Scholarship at Chicago Unbound. It has been accepted for inclusion in Journal Articles by an authorized administrator of Chicago Unbound. For more information, please contact [email protected]. COLUMBIA LAW REVIEW VOL. 118 OCTOBER 2018 NO. 6 ARTICLES SEXUAL HARASSMENT AND CORPORATE LAW Daniel Hemel * & Dorothy S. Lund ** The #MeToo movement has shaken corporate America in recent months, leading to the departures of several high-profile executives as well as sharp stock price declines at a number of firms. Investors have taken notice and taken action: Shareholders at more than a half dozen publicly traded companies have filed lawsuits since the start of 2017 alleging that corporate fiduciaries breached state law duties or violated federal securities laws in connection with sexual harassment scandals. Additional suits are likely in the coming months. This Article examines the role of corporate and securities law in regulating and remedying workplace sexual misconduct. We specify the conditions under which corporate fiduciaries can be held liable under state law for perpetrating sexual misconduct or allowing it to occur. We also discuss the circumstances under which federal securities law requires issuers to disclose allegations against top executives and to reveal settlements of sexual misconduct claims.
    [Show full text]
  • Dov Charney's Sleazy Struggle for Control of American Apparel July 9, 2014
    Don Charney’s Sleazy Struggle for Control of American Apparel By Susan Berfield When I first reach Dov Charney on been in crisis as American Apparel 2011, Irene Morales, a sales associ- June 24, he’s scrambling to raise lost $270 million and came close to ate, accused Charney of using her as money, find a partner, try anything bankruptcy twice. But the board had a sex slave and sought damages of a to get his company back. His hand- stuck by him, sales had increased quarter-billion dollars. An arbitrator picked board of directors had ousted this spring, and summer promised to dismissed those claims but found the him from American Apparel six days be busier yet. Things were finally company “vicariously liable” for the earlier following an investigation looking up. conduct of another employee who that turned up several instances of had created a fake blog in Morales’s alleged misconduct. “They’re con- Charney packed samples, ordered an name. Then the employee posted cerned that an unconventional leader Uber car to get to LAX, and boarded erotic photos of Morales on it. Char- somehow damages the company’s a red-eye for New York. After he landed, he put on a suit and tie and, ney told some board members and chances of success. But a contrarian, wearing white American Apparel his lawyers that he had photos of alternative-thinking CEO can bring socks and Common Projects sneak- Morales and of others accusing him creative ideas that advance the com- ers, sauntered into the office of the of harassment that showed the wom- pany, even the industry,” he says.
    [Show full text]
  • Dov Charney: from American Apparel to Los Angeles Apparel by Deborah Belgum Senior Editor
    NEWSPAPER 2ND CLASS $2.99 VOLUME 73, NUMBER 6 FEBRUARY 3–9, 2017 THE VOICE OF THE INDUSTRY FOR 72 YEARS Dov Charney: From American Apparel to Los Angeles Apparel By Deborah Belgum Senior Editor If the business plan sounds the same, it is. Dov Charney is more determined than ever to make his second stab at ap- parel manufacturing more successful than the first. Charney, who was fired at the end of 2014 from his American Apparel clothing company, is still stinging by the ouster and the loss of the company he founded. But he is determined to move forward and prove that you can manufacture clothing in Los Angeles, pay a fair wage and make money. “We are going to take over and be an important force in the apparel industry,” he said, speaking Feb. 2 at a creative services and artist-oriented event organized by Le Book at the Pacific Design Center in West Hollywood, Calif. On an outdoor patio with a clear view of the three col- orful buildings that make up the Pacific Design Center, a crowd of more than 100 people showed up to hear Char- ➥ Dov Charney page 6 TRADE SHOW REPORT Surf Industry—and More—Turn Out for Surf Expo By Alison A. Nieder Executive Editor Exhibitors were “stoked” and buyers were busy at the Jan. 26–28 run of Surf Expo at the Orange County Con- vention Center in Orlando, Fla. The surf-industry trade show drew a mix of core surf and swim stores from across the country, including Cali- fornia retailers Jack’s Surfboards, Surf Diva, Sun Diego and Hansen’s; East Coast retailers Ron Jon, Curl, Cin- namon Rainbows, Warm Winds and Brave New World; and Hawaiian retailers Hi Tech and Déjà Vu.
    [Show full text]
  • Alternative Media at UCI Vol I Issue II
    ALTERNATIVE MEDIA COLLECTIVE Volume I Issue II Spring quarter June 3rd, 2005 Cellador Irvine Progressive Statement of Purpose: The 2004-2005 school year was Statement of Purpose: The Irvine Progressive is a non-partisan pub- the first year Cellador was recognized as an Alternative lication dedicated to fostering political awareness and intelligent dis- Media publication. It was founded to showcase creative cussion. We seek to provide a forum chiefly for viewpoints associated works of UCI students. Cellador provides the UCI com- with the political left at the University of California, Irvine. munity with a publication that allows students of all disci- plines to share and network with other students through their creative expressions. By printing quarterly through- Contacts: Heidi Khaled ([email protected]), Gerald Tan (gtan@uci. out the academic year, Cellador provides a consistent op- edu), and Alexander Phillips ([email protected]) portunity for students to view the works of other students and submit their work for publication. Contacts: Christina Luiz ([email protected]), Zachary Horn ([email protected]) Jaded Statement of Purpose: Jaded magazine is a form of alternative media to encourage political, cultural, and personal discourse among UCI Irvine Review students. We celebrate and support the Asian Pacific Islander commu- nity through the retelling of the past, engaging of the present, and Statement of Purpose: The Irvine Review Foundation is a sharing a vision for the future. We hope to build connections and non-profit, non-partisan educational foundation estab- bridge gaps between people of different ethnicities and ways of think- lished to promote conservative ideas and enhance the qual- ing.
    [Show full text]
  • Identity & Inspiration
    NEWSPAPER 2ND CLASS $2.99 VOLUME 71, NUMBER 21 MAY 15–21, 2015 THE VOICE OF THE INDUSTRY FOR 70 YEARS FREIGHT & LOGISTICS How Apparel Importers Are Adjusting Their Strategies for the Next Big Shipping Season By Deborah Belgum Senior Editor Late last year, Ram Kundani waited as long as seven weeks to extract his cargo containers filled with printed dresses, lace tops and distressed denim pants from the con- gested ports of Los Angeles and Long Beach. Many of his apparel shipments didn’t make it in time for the make-or-break holiday season, costing his company more than $500,000 in lost sales. This year, hoping not to be burned again, he is bringing his apparel import in a little earlier than normal. “We used to add an extra three or four days for our mer- chandise to clear. Now we are adding up to 10 days to two weeks just in case,” said Kundani, executive vice president ➥ Freight page 9 The Point: New Retail Center Bows in LA County By Andrew Asch Retail Editor Planet Blue, Lucky Brand and Michael Stars are scheduled to open stores at The Point, Los Angeles Coun- ty’s newest retail center, which is scheduled to take a bow on July 30. Also scheduled to take a bow at The Point are boutiques for Prana; Lou & Grey, a new concept from Ann Taylor Loft; No Rest for Bridget, a fast-fashion chain; Athleta, Gap Inc.’s women’s fitness line; and Six:02, a women’s fitness apparel and footwear shop owned by Foot Locker Inc.
    [Show full text]
  • In Re American Apparel, Inc. Shareholder Litigation 10-CV-06352-Second Amended Class Action Complaint for Violation of Federal S
    Case 2:10-cv-06352-MMM-JCG Document 144 Filed 02/15/13 Page 1 of 134 Page ID #:2751 ri 1 KESSLER TOPAZ MELTZER & CHECK, LLP 2 Ramzi Abadou (222567) [4'] [email protected] gCT C 3 Eli R. Greenstein (217945) egreensteincktrnc. corn 4 Stacey M.raplan(241989) r:c.1 5 2013 skap1anktme, corn 5 Erik D. Peterson (257098) çpetersonktrnc,com 6 One Sansorne Street, Suite 1 850 San Francisco, CA 94104 7 Telephone: (415) 400-3000 Facsimile: (415) 400-3001 8 Lead Counselfor Lead Plaint iJJ and the Class 9 UNITED STATES DISTRICT COURT 10 CENTRAL DISTRICT OF CALIFORNIA 11 WESTERN DIVISION 12 IN RE AMERICAN APPAREL, Case No. CV-10-6352 MMM (JCG) 13 INC. SHAREHOLDER (Consolidated) LITIGATION 14 SECOND AMENDED CLASS 15 ACTION COMPLAINT FOR VIOLATION OF FEDERAL 16 SECURITIES LAWS 17 This Document Relates To: JURY TRIAL DEMANDED 18 ALL ACTIONS, 19 20 21 22 23 24 25 26 27 28 Case 2:10-cv-06352-MMM-JCG Document 144 Filed 02/15/13 Page 2 of 134 Page ID #:2752 1 TABLE OF CONTENTS 2 I. INTRODUCTION........................................................................................... 1 3 II. SUMMARY OF THE ACTION ..................................................................... 2 4 A. American Apparel’s Business Model and Brand .................................. 2 5 B. Class Period Allegations ....................................................................... 5 1. Defendants’ Immigration Compliance Misrepresentations ........ 5 6 2. Defendants Misleadingly Downplay the Negative Effects 7 of the Terminations on the Company’s Operations .................. 10 8 3. Defendants Disclose the Severe Disruptions Caused by the 9 Manufacturing Workforce Terminations .................................. 13 10 4. Defendants’ Misleading Statements Regarding American Apparel’s Unorthodox Business Practices ............................... 14 11 a.
    [Show full text]
  • In Re American Apparel, Inc. Shareholder Litigation 10-CV-06352-Consolidated Class Action Complaint for Violation of Federal
    Case 2:10-cv-06352-MMM -JCG Document 66 Filed 04/29/11 Page 1 of 86 Page ID #:1184 1 BARROWAY TOPAZ KESSLER FILED 2 MELTZER & CHECK, LLP CLERK,^DISiRICT U.S COURT Ramzi Abadou (22256.7) 3 [email protected] APR 2 g 2011 Stacey M. Kaplan (241989) 4 skaplan@btkmc . com CEN " DISTRICT' F CALIFORN A Erik D. Peterson (257098) BY ' / _.__._ DEPUTY 5 [email protected] 6 580-California Street, Suite 1750 San Francisco, CA 94104 7 Telephone: (415) 400-3000 Facsimile: (415) 400-3001 8 Lead Counsel 9 10 UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA 11 WESTERN DIVISION 12 13 IN RE AMERICAN APPAREL, INC. ) Case No. CV-10-6352 MMM (JCG) SHAREHOLDER LITIGATION ) (Consolidated) 14 ) CONSOLIDATED CLASS ACTION 15 ) COMPLAINT FOR VIOLATION OF FEDERAL SECURITIES LAWS 16 ) j JURY TRIAL DEMANDED 17 This Document Relates To: y( 18 ALL ACTIONS ) 19 ) 20 ) 21 ) 22 ) 23 24 25 26 27 28 Case 2:10-cv-06352-MMM -JCG Document 66 Filed 04/29/11 Page 2 of 86 Page ID #:1185 1 INTRODUCTION 2 1. Lead Plaintiff, Charles Rendelman ("Lead Plaintiff' or "Plaintiff"), 3 alleges the following based upon Lead Counsel's investigation, which included, 4 among other things: (i) interviews with former American Apparel, Inc. ("American 5 Apparel" or the "Company") employees; (ii) a review of Defendants' public 6 documents, conference calls and announcements, U.S. Securities and Exchange 7 Commission ("SEC") filings, wire and press releases published by and regarding 8 American Apparel; and (iii) securities analysts' reports and news advisories about the 9 Company.
    [Show full text]
  • The PEOPLE, COMPANIES and IDEAS THAT MADE NEWS in 2017
    NEWSPAPER 2ND CLASS $2.99 VOLUME 73, NUMBER 51 DECEMBER 8–14, 2017 THE VOICE OF THE INDUSTRY FOR 72 YEARS Frances Harder Max Azria UCLA Economists Predict a Healthy 2018 With Clouds on the Horizon By Deborah Belgum Senior Editor The economic world has been pretty rosy in the last few Dov Charney True Religion years with consistent growth, falling unemployment rates and rising wages. That picture of health will continue through 2018, but UCLA economists are seeing some headwinds approaching in 2019. “There is a momentum coming from the recent strength in 2017, strong equipment spending, the likelihood of a tax cut and a consumer who is benefiting from higher asset prices and the prospect of higher wages,” said UCLA senior economist David Shulman, one of the economists who wrote the recent “UCLA Anderson Forecast for the Nation and the Economy,” which was released Dec. 6. One of the more recent movers and shakers to the econ- omy includes a giant jump in equipment purchases, up 8 percent in the two most recent quarters. That is expected to Karsten Newbury and Tim Gunn Ilse Metchek continue into next year and help push the country’s gross ➥ Forecast page 7 tHE PEOPLE, COMPANIES AND IDEAS FIBER & FABRIC Cone, Lenzing and Unifi Partner THAT MADE NEWS IN 2017 for Future Black+ Denim With From high-profile bankruptcies and companies reinventing their brand to revamped shopping centers and Recycled Materials new beginnings for entrepreneurs, the year has been filled with news that has kept the apparel industry evolving. By Alison A.
    [Show full text]
  • How Youth-Club Chic Burned Bright, Then Faded Away
    WEDNESDAY, SEPTEMBER 1, 2010 The rise and fall of American Apparel How youth-club chic burned bright, American Apparel, the ethical clothing firm then faded away with a controversial CEO, is facing BY IMOGen FOX bankruptcy THE GUARDIAN, LONDON Few high street retailers are able to claim BY AmeLia HILL the rights to an entire look for any stretch THE GUARDIAN, LONDON of time. But between 2007 and last year, US retailer American Apparel did exactly wasn’t having oral sex that — the label was responsible for a with an employee in front trend that could genuinely be termed of a female journalist that the American Apparel look. It now threatens to undo The American Apparel trend Dov Charney, founder of American was instantly recognizable and held Apparel. Nor was it simulating oral a vice-like grip on the under-25s sex with another female member of — male and female. The sexy-geek look staff whom he had ordered to pretend typically comprised of crayon-bright, to masturbate in front of him. The high-waisted skinny jeans worn with 41-year-old’s professional and personal a fuss-free bright T-shirt, a pair of heavy- reputation isn’t even on the line because rimmed glasses and a rebellious pout. at least three female employees have Metallic leggings, bright backpacks and filed sexual harassment lawsuits against skimpy 1980s running shorts completed him (all the cases were settled before the look. reaching trial); nor because he walks By 2008, it was a genuine fashion through his factory in his underpants sensation.
    [Show full text]