American Apparel Names Paula Schneider as CEO, Terminates Dov Charney
December 2014 - The Board of Directors of American Apparel, Inc. (NYSE MKT: APP) announced that it has appointed veteran fashion executive Paula Schneider as Chief Executive Officer, effective January 5, 2015. This appointment follows the termination of Dov Charney, former President and Chief Executive Officer, for cause in accordance with the terms of his employment agreement. Scott Brubaker, who has been serving as Interim CEO, will continue in the post until Ms. Schneider joins the company, after which he will remain as a consultant to ensure an orderly transition.
An experienced executive with an extensive track record in design, merchandising, sales, manufacturing, finance, licensing and human resources, Ms. Schneiderhas a well-earned reputation for improving the financial performance and operational efficiencies of numerous global fashion brands. She has served as president or senior officer of a number of retail and apparel companies, including Warnaco, Gores Group, BCBG Max Azria, and Laundry by Shelli Segal. (more…)
Gildan Activewear Announces Record Fourth Quarter Adjusted EPS Up 20.5%
Net sales in the fourth quarter amounted to $666.0 million (All figures U.S), up 6.4 per cent from $626.2 million in the fourth quarter of fiscal 2013. Net earnings in the quarter were $122.7 million or $1.00 per share on a diluted basis, compared with net earnings of $96.8 million or $0.79 per share for the fourth quarter of fiscal 2013.
EPS for the fourth quarter represent a record performance for any fiscal quarter in Gildan Activewear’s history. The growth in adjusted net earnings and EPS was due to higher sales in both operating segments, including the impact of the acquisition of Doris, combined with lower income tax and financial expenses.
Net sales for the Printwear segment in the fourth quarter of fiscal 2014 amounted to $435.8 million, up 2.8% from the fourth quarter of fiscal 2013. The increase in Printwear net sales was due to higher net selling prices in the quarter and more favourable product-mix, partially offset by weaker demand.
To read the full press release, please click here
16th Annual Western Imprint Canada Show A Success!
October 2014 - In the months, weeks and days leading up to the 2014 Western Imprint Canada Show, there was a strong sense of renewed enthusiasm for this event, and for the overall industry outlook.
This momentum carried through this past weekend as the Calgary Imprint Canada Show celebrated its 16th year of bringing the top suppliers and buyers together under one roof. The buzz became amplified as word spread about new dates for 2015 and beyond.
Beginning next year, the Western Imprint Canada Show will be held in September, to better meet the needs of the industry.