View Post

American Apparel Ousts Controversial CEO Dov Charney

In People, Reports, What's New by Jeff PrineLeave a Comment

People

Los Angeles—Dov Charney, the flamboyant, controversial chief executive officer of American Apparel–who has been the subject of lawsuits and sexual misconduct allegations–finally got his comeuppance. On Wednesday, after American Apparel’s annual meeting, the board of directors decided to strip Charney of his chairman/chief executive roles, suspending him immediately and terminating …

View Post

December Comp Sales Were Up—But at a Price?

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

New York—Discounts may have helped comparable store sales rise 2.7% in December, but that stronger-than-expected increase often came with a price(s). Namely, lower margins, customers shifting to online shopping and lowered fourth quarter earnings expectations. In its monthly assessment of eight large retailers, Thomson Reuters reported the 2.75 increase in …

View Post

Holiday Pressure: November Comp Sales Disappointing

In Industry News, Reports, What's New by Jeff PrineLeave a Comment

New York— Black Friday creep—expanding sales and promotions beyond the traditional one the Friday after Thanksgiving—may have had an unintentional effect. Consumers may be lured in by promotions but purchasing isn’t as strong as hoped for. According to several metrics, November comparable store sales were modest—actually decelerating from October increases. …