latest from financial fashion news

American Apparel Hit With Lawsuit

American Apparel, Inc. financial troubles have officially become a legal matter. Last Thursday the Law Offices of Howard G. Smith in Pennsylvania announced that it had filed a lawsuit against the company on behalf of those who purchased its common stock between December 20, 2006 and August 17, 2010. The lawsuit was filed in the United States District Court for the Central District of California. » I want to read more and receive info on American Apparel

Van De Velde’s Profit Swings Up 39.3%

Van De Velde, the Belgian lingerie manufacturer that now owns 85 percent of Intimacy, said Friday that its net profit during the first half of 2010 jumped 39.3 percent, to 25.3 million Euros, equivalent to approximately $32.2 million at the current exchange rate. These results were driven by growth in every one of the company’s regions worldwide, with particularly strength in the United States and Canada, followed by Europe. » I want to read more and receive info on Van de Velde

American Eagle To Close 50-100 Stores

Streamlining was the focus of American Eagle Outfitters, Inc.’s second quarter result release yesterday. The teen retailer said it plans to close between 50 to 100 stores over the next two to five years, while targeting international growth through franchise agreements in the Middle East, China, Hong Kong and Israel. The company completed the closure of its MARTIN + OSHA chain during the second quarter ended July 31, 2010, ending the period with 1,083 stores. » I want to read more and receive info on American Eagle

Despite Challenges, Gap 2q Margins Up

While Glenn Murphy, chairman and chief executive officer of Gap Inc., noted “some challenges along the way,” the company still managed a 9 percent increase in earnings per share during the second quarter ended July 31, 2010: to 36 cents on a diluted basis from 33 cents during the same period last year. » I want to read more and receive info on Gap

Delta Apparel Breaks Sales Record

Delta Apparel, Inc. has rounded another strong quarter and fiscal year. The activewear and headwear company reported that net sales increased 20.5 percent for the fourth quarter ended July 3, 2010: to $126.2 million from $104.7 million during the same period last year. Net income jumped 40.8 percent; to $5.7 million from $4 million. » I want to read more and receive info on Delta Apparel

American Apparel’s Debt Widens In 2q

New reports have surfaced suggesting financial instability and an uncertain future for American Apparel, Inc., a manufacturer and retailer of fashion basics for the hip, young consumer. » I want to read more and receive info on American Apparel

Walmart’s 2q Helped By Global Growth

Despite net sales remaining flat for Walmart U.S. and comparable store sales declining 1.8 percent for this division, Wal-Mart Stores, Inc. cited a 2.8 percent increase during the second quarter ended July 31, 2010, to $103 billion from $100 billion. This increase was driven primarily by Walmart International, which cited 11 percent net sales increase, to $26 billion, with particularly strong results in Mexico, Brazil and China. » I want to read more and receive info on Walmart

Kohl’s 2q Sales Rise 7.7%

Kohl’s Corporation continued to experience sales increases during the second quarter and six-month periods ended July 31, 2010. During the quarter, the company reported that net sales increased 7.7 percent, to $4.1 billion, while comparable store sales increased 4.6 percent. Net income was $260 million, or 84 cents per diluted share, compared with $229 million, or 75 cents per diluted share, during last year’s second quarter. » I want to read more and receive info on Kohls

Maidenform Details Strong 2Q Results

Maidenform Brands, Inc. reported 2010 second quarter net income of $13,659,000 on sales of $149,401,000 compared to income of $7,278,000 on sales of $114,205,000 for the same quarter last year. The 31 percent increase in sales was “driven by continued strength in its core shapewear and bra businesses across the company’s wholesale channels,” according to a company statement that accompanied the release of results. Shapewear net sales increased 44 percent, bra net sales increased 31.6 percent, department stores and national chain stores channel net sales increased 17.5 percent and mass merchant channel net sales increased 61.3 percent the statement declared. » I want to read more and receive info on Maidenform

Warnaco’s Credit Rating Up on Strong Second Quarter Results

In response to The Warnaco Group’s improving financial situation, Standard & Poor’s Rating Services issued a press release late last week raising its corporate credit rating on Warnaco to investment grade (BBB-). » I want to read more and receive info on Warnaco

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