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Sales at Claire's fall in Q4
Claire's Stores blamed currency exchange rates and store cloures for its decrease in revenue in the fourth quarter.
The specialty retailer said that for the period ended Jan. 30, net sales were $402.6 million, a decrease of $9.8 million, or 2.4% compared to the fiscal 2014 fourth quarter. The company said the decrease was attributable to an unfavorable foreign currency translation effect of non-U.S. net sales, the effect of store closures, decreased shipments to franchisees and a 0.2% decrease in same-store sales.
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American Apparel taps retail vet as chairman
As it moves to distance itself from the turbulence that marked its past two years, American Apparel Inc. has named three apparel industry executives to its revamped board of directors.
The retailer, which emerged from bankruptcy protection in February, appointed Paul R. Charron, former CEO of Liz Claiborne, as chairman, the Los Angeles Times reported.

