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As Expected, American Apparel Files Bankruptcy, Reorganization Plans

In Industry News, Reports, What's New by Accessories StaffLeave a Comment

Los Angeles—It appeared inevitable: after failing to make a profit or turnaround sales and operations since 2009, American Apparel Inc. filed today for Chapter 11 bankruptcy protection and revealed a reorganization plan that would keep its retail and made-in-USA manufacturing facilities open. Under the agreement reached with its most secured …

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Lululemon Athletica Q2 Beats Estimates, But Gives Conservative Outlook

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

Vancouver—Although Lululemon Athletica reported late Thursday second quarter earnings that beat estimates, the yoga-apparel and accessories retailer lowered its full year forecast on fears of late deliveries. For the quarter ended August 4, Lululemon posted a profit of $56.5 million, or 39 cents a share, compared with $57.2 million, or …

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After Selling Majority Stake, William Ackman Finally Departs JCPenney

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

New York—After a controversial and often contentious tenure as JCPenney’s largest shareholder and member of its board of directors, William Ackman, activist investor behind Pershing Square Capital Management, has sold his stake in the retailer. According to documents filed Monday in a regulatory filing with the Securities & Exchange Commission …

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Macy’s Inc. Lowers Full Year Outlook on Disappointing Q2 Results

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

New York—Macy’s Inc. today reported “disappointing” second quarter earnings with weaker-than-expected profits. The department store also lowered its full year outlook due to the prospect of softer sales, a move that pushed its shares down in trading. For the quarter ended August 3, the parent to Macy’s and Bloomingdale’s stores …

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Preliminary Reports: Holiday Sales Worst Since 2008?

In Industry News, What's New by Accessories StaffLeave a Comment

Purchase, NY–Retailers will be hoping that their post Christmas sales help boost what some retail analysts say has been a lackluster season at retail. According to MasterCard Advisors SpendingPulse,which tracks all payment types including credit cards, cash and checks across apparel, electronics, luxurygoods, online and furnishings, holiday-related sales rose a …