Tag Archives: American Apparel

Business, Finance, Occupation & Industry

American Apparel, Inc. Announces Comparable Sales for March 2013 Increased 8%

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By Business Wirevia The Motley Fool

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American Apparel, Inc. Announces Comparable Sales for March 2013 Increased 8%

LOS ANGELES–(BUSINESS WIRE)– American Apparel, Inc. (NYSE MKT: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced preliminary sales for the month ended March 31, 2013, and reported that comparable sales increased 8%, including a 5% increase in comparable store sales for its retail store channel and a 26% increase in net sales for its online channel. Wholesale net sales decreased 7% for the month of March primarily due to one less shipping day in March 2013 than in March 2012. On a preliminary basis, total net sales for March 2013 were $50.3 million, an increase of 2% over the prior year period. For the quarter-ended March 31, 2013, total net sales increased 5% to $138.8 million, with an 8% increase in comparable store sales and a 2% increase in wholesale net sales.

The following delineates the components of the increases (decreases) for the months and quarters indicated:

From: http://www.dailyfinance.com/2013/04/11/american-apparel-inc-announces-comparable-sales-fo/

          2013         First Quarter
 
Business, Finance, Occupation & Industry

American Apparel Successfully Completes Refinancing of Secured Debt

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By Business Wirevia The Motley Fool

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American Apparel Successfully Completes Refinancing of Secured Debt

LOS ANGELES–(BUSINESS WIRE)– American Apparel, Inc. (NYSE MKT:APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, today announced that it has successfully closed a private offering of $206 million principal amount of its 13% senior secured notes due 2020 and has entered into a new $35 million five-year asset-backed revolving credit facility with Capital One Bank. The Company used the net proceeds from the offering of the notes, together with borrowings under the new revolving credit facility, to repay in full and terminate its prior credit facilities with Lion Capital, LLC and Crystal Financial LLC.

“Our new debt arrangements, coupled with improved financial performance, will provide added flexibility in delivering upon our operating plan for 2013 and beyond,” said Dov Charney, American Apparel‘s chairman and chief executive officer. “We appreciate the vote of confidence from Capital One and the purchasers of the notes and the completion of this financing effort will allow us to further focus our efforts in driving profitability for the benefit of all of our stakeholders.

“I would like to personally thank Lyndon Lea of Lion Capital for his unwavered support as a lender during the last four years, even when others doubted American Apparel‘s ‘Made in USA‘ sweatshop-free mission,” stated Mr. Charney. “Also a special thank you is due to Michael Serruya and to Andy De Francesco of Delavaco Capital, Inc. in Toronto, for their initial investment which came at a critical time in 2011, and their continued support and friendship. At American Apparel we are focused on leveraging art, design and innovation to advance our business process, rather than relentlessly pursuing off shore cheap labor. We welcome bondholders to our family of stakeholders, and re-emphasize that it is our mission to ensure that all stakeholders—customers, workers, shareholders, suppliers, and now bondholders—have a positive experience when touched by our business. We also welcome Capital One as our new bank, under our new five year agreement with them, which will greatly reduce our first lien borrowing costs. At this juncture it’s time to roll up our sleeves and build American Apparel‘s future.”

“Capital One Bank is pleased to work with American Apparel, a leading manufacturer, distributor, and retailer of branded fashion basic apparel, to support the company’s recapitalization and growth strategy,” said Michael Burns, Senior Vice President and Asset Based Lending Regional Manager, Capital One Bank. “We look forward to building our relationship with American Apparel to help position the company for continued market leadership, growth and success.”

…read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Investors Did a Run on These 3 Stocks

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By Rich Duprey, The Motley Fool

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With the terms it placed on Cyprus, the eurozone has its template for future bailouts in place, and depositors in countries with their own shaky finances will be wary about bearing the brunt of the next crisis.

Some stocks had shaky weeks of their own, even though they’re unrelated to the global financial problems. Don’t to running over the cliff with them like a bunch of lemmings, as this could just be a temporary situation. So let’s first see whether they had good reason to fall, as panic-fueled routs can sometimes lead to excellent buying opportunities.

Falling off a cliff
Shares of iron ore miner Cliffs Natural Resources fell 14% earlier this week to levels it hasn’t seen since the recession, as analysts at Morgan Stanley and Credit Suisse drastically cut their price targets. Following the miner’s just-as-dramatic slashing of its dividend by 76%, the analysts at both investment houses cut the stock by more than 60% from their previous price target. Morgan Stanley dropped Cliffs’ shares to $14 a stub, and Credit Suisse took it down to $10.

On the bright side, Goldman Sachs raised its outlook from “sell” to “neutral,” but that was hardly enough to outweigh the pall hanging over the miner. In general, analysts expect its iron ore business to be cut in half in 2013 and its pricing power to come under tremendous pressure. Earlier this month, Cliffs announced that it was idling its Quebec iron ore pellet plant to meet the market‘s lower demand.

With the global steel industry wobbling despite expectations that Chinese production will increase 4% this year, Cliffs’ largest customer, ArcelorMittal , is melting down as well. The world’s largest steelmaker accounts for 17% of Cliffs’ total revenues and a third of its U.S. business and has seen its stock lose a quarter of its value in 2013.

Last fall, I believed that most of the risk had been priced into Cliffs’ own stock, but shares are down 58% since then and don’t seem to have reached bottom yet. While it amounts to a bit of closing the barn door after the cows have escaped, I’ll be closing out my outperform rating on Motley Fool CAPS.

Big pay day
Easy come, easy go, or so say investors in American Apparel , which saw their stock jump more than 12% the other day on no company-specific news and then give a good portion of it back for pretty much the same reason. There was, however, an article that appeared in the trade rag WWD that the retailer’s chairman and CEO was being richly rewarded this year with a pay increase from $800,000 to $2 million cash. While sales rose 6% in the most recent quarter, company losses narrowed only slightly.

The stock, however, has more than doubled since the start of the year and has nearly tripled from its 52-week low. After the stock wallowed in penny-stock status because of …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

American Apparel, Inc. Announces Proposed Private Debt Offering

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By Business Wirevia The Motley Fool

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American Apparel, Inc. Announces Proposed Private Debt Offering

LOS ANGELES–(BUSINESS WIRE)– American Apparel, Inc. (the “Company”) (NYSE MKT: APP) announced today that it currently intends, subject to market and other conditions, to offer senior secured notes (the “Notes”) in a private offering. The Notes, if offered, will be offered only to “qualified institutional buyers” in the United States in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act“), and to non-U.S. persons pursuant to Regulation S under the Securities Act. The Company intends to use the net proceeds of any such offering of the Notes to repay certain indebtedness and for general corporate purposes. The Company may at any time elect to no longer pursue a possible Notes offering.

The Notes have not been registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful.

Cautionary Statement about Forward-Looking Statements

This press release contains forward-looking statements regarding a proposed private offering. Such forward-looking statements are based upon the current beliefs and expectations of the Company’s management, but are subject to risks and uncertainties, which could cause actual results and/or the timing of events to differ materially from those set forth in the forward-looking statements, including, among others, whether or not the Company will ultimately commence or consummate the offering of the Notes, the timing of any such offering and if any such offering is consummated, the terms of the Notes and the uses of proceeds of the offering. All forward-looking statements are qualified in their entirety by this cautionary statement and speak only as of the date of this release, and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

American Apparel, Inc.<br …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

10 Highly Unusual Volume Spikes With Huge Gains In Shares Traded

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By 24/7 Wall St.

Bull and Bear

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24/7 Wall St. is tracking the highly unusual volume increases in shares today. The Dow Jones Industrial Average hit a new all-time high today, but the volume on these news bits is taking some way up and some way down. The actual trading volume here is so strong that you know day traders and speculators are involved in many of these stocks today.

Acura Pharmaceuticals, Inc. (NASDAQ: ACUR) shares are surging on its Nexafed pharmacy deal, where its new next generation pseudoephedrine with abuse deterrent technology will now be stocked by chain drug store KERR DRUG. Shares are up a whopping 60% at $3.25 versus a 52-week range of $1.06 to $4.50, The share volume of more than 6.8 million shares compares to average volume of only about 530,000 shares. That is a 13X volume spike with about 3 hours until the close.

American Apparel, Inc. (NYSEMKT: APP) is actually trading up after earnings and shares have now doubled off of the 52-week low. The 14% gain to $1.47 is on more than 1.27 million shares, representing a 3.5-times volume spike. This is currently the third most active day of 2013.

Chuy’s Holdings, Inc. (NASDAQ: CHUY) is at it again, with big gains of 7% to $31.20 and shares hit a new all-time high of $32.00 today. The 335,000 shares is already close to twice the normal trading volume, and it is on no formal news.

Cree, Inc. (NASDAQ: CREE) is up 15% after an analyst upgrade today at $51.40. What is so unusual is that Cree’s 8.7 million shares is more than a 4X volume spike as the average volume each day is about 1.97 million shares.

Himax Technologies, Inc. (NASDAQ: HIMX) is up a whopping 32% at $4.55 to a new 52-week high by just over $1.00 per share. A Seeking Alpha article said shares could triple on Monday. The 11.1 million shares with about 3 hours to go is on more than 11.1 million shares. That represents more than 19-times normal daily share volume. Count that as a 20X volume spike already.

Read Also: 11 Stocks Analysts Think Will Rise 50% to 100% (Or Even More)

Impax Laboratories Inc. (NASDAQ: IPXL) is down a sharp 24% at $15.08 after the FDA identified manufacturing issues at the company. What is odd here outside of the drop taking it well under the prior 52-week low of $18.90 is that the 7.5+ million shares represents a 12X volume spike.

J. C. Penney Company, Inc. (NYSE: JCP) is down yet another 9% at $15.20 after Vornado is unloading shares; but the volume of 29 million shares with about 3 hours to go is already almost a 3X volume spike. The is the second most active day of 2013 after the 48 million shares traded after earnings.

MGIC Investment Corp. (NYSE: MTG) is at it yet again for days in a row of gains. With 40 million shares traded, that is more than a 6X volume spike. Shares are up 24% at $5.20 after an analyst upgrade. Radian Group Inc. (NYSE: RDN) was also …read more
Source: FULL ARTICLE at DailyFinance