American Apparel, the Los Angeles-based apparel supplier and retailer, recently signed a new lease on a 220,000 square foot warehouse. The company's lease for the building, located in La Miranda, Calif., is for five years.
Soros Fund Management LLC, a hedge fund owned by George Soros, has hired Deutsche Bank AG to solicit bids for Crystal Financial LLC, a lender to promotional supplier American Apparel. The company could sell for as much as $200 million.
American Apparel Inc. announced preliminary comparable sales for the period August 1, 2012 through August 28, 2012, and reported that comparable store sales increased 24 percent, including a 24 percent increase in comparable store sales for its retail store channel and a 19 percent increase in net sales for its online channel.
Shares of American Apparel Inc. rose last Thursday after the retailer said a key sales figure increased by 24 percent in August.
The Los Angeles-based company said the increase included a 24 percent boost from its retail stores and a 19 percent increase from its online store for the four-week period ended Aug. 28. The figure is a key metric because it strips out the impact of newly opened and closed locations.
CEO Dov Charney said the performance was driven by growth across almost all major market and product categories.
American Apparel Inc. announced financial results for its second quarter ended June 30, 2012.
American Apparel Inc. announced preliminary sales for the month ended July 31, 2012. The company reported that for the month ended July 31, 2012, total net sales on a preliminary basis increased 14 percent to $53.8 million when compared to the month ended July 31, 2011.
Team USA may be winning a number of gold medals in the London Olympics, but when it comes to official Olympic clothing, the U.S. is losing out. The U.S. Olympics Team is selling thousands of items of clothing online sporting the official U.S. Olympic logo that are not made in the USA.
More than 300 of the 345 items for sale on the U.S. Olympic Team's website were made overseas. The Ralph Lauren T-shirts were made in the Philippines. A Ralph Lauren beret with the Olympic insignia, also for sale on the website, was made in China.
Promo Marketing has learned that American Apparel, the Los Angeles-based apparel supplier and manufacturer, has acquired California beachwear brand Warriors of Radness. In an email sent out over the weekend, representatives from Warriors of Radness explained that the surfwear company had reached an agreement to sell its business to American Apparel.
Following news of the U.S. Olympic Committee's use of uniforms manufactured in China, U.S. Senator Sherrod Brown proposed the "Wear American Act of 2012" which would require all federal government purchases of apparel be 100 percent American-made.