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Canadian firm acquires American Apparel — but not all of it
Canadian apparel manufacturer Gildan Activewear Inc. emerged as the winner in the court supervised auction to acquire the bankrupt American Apparel brand and some of its other assets. The company, however, will not be purchasing American Apparel’s 110 retail stores. Gilden’s $88 million winning bid was higher than its initial proposal of $66 million, which was made back in November as part of a stalking horse portion of American Apparel LLC’s Chapter 11 bankruptcy protection filing. -
Specialty apparel giant cuts outlook on poor holiday
Ascena Retail Group Inc. cut its earnings outlook as poor sales moved it into a highly promotional stance during the holiday period. The operator of Ann Taylor, Loft, Dressbarn, Lane Bryant, Maurices and Catherines said total same-same sales declined 3.1% during the November/December period.

