American Apparel delays 2010 filing
New York City — American Apparel, which has yet to disclose certified financial results for 2009, has now delayed the filing of its 2010 annual report because it needs time to complete “reviews and analyses” of reports for both years.
The troubled retailer, whose founder and CEO Dov Charney was recently accused in a $260 million suit of using a former employee as a sex slave, did admit it expects to register losses for 2010, according to a filing with the Securities and Exchange Commission.
Survey: Gas prices impacting spending
New York City — Shoppers plan to wait until next year and beyond to spend generously again, a survey on Monday showed, in an early sign that rising gasoline prices could make the spring selling season tough for retailers, Reuters reported.
About three-quarters of Americans surveyed by America’s Research Group said they were shopping less due to rising gas prices, with more than 62% of the participants planning to spend generously only next year or beyond.
This spring, more Americans plan to stretch their dollars by shopping at discount chains rather than the pricier department stores and specialty chains, the survey showed, with 753 out of 1,000 survey participants picking discounters as potential shopping destinations for spring.
Where one Target music deal ends, another begins
MINNEAPOLIS — Target’s deal with Lady Gaga may have fallen through, but that doesn’t mean the retailer has lost its ability to court the music industry. Case in point, the company announced yesterday that it is partnering with GRAMMY and Academy Award-winning singer and actress Jennifer Hudson for the exclusive, deluxe edition of her second studio album, "I Remember Me." The deluxe edition, including four additional new songs and bonus video material, will be available only at Target stores nationwide and on Target.com beginning March 22.
“Creating this album was an amazing, personal journey for me,” said Hudson. “It is especially meaningful to be able to share more of my music with my fans on the Target deluxe edition of ‘I Remember Me’.”
Target’s version of Hudson’s album includes the tracks“Where You At” (Dave Audé Remix); “The Star Spangled Banner” (live); “What You Think” and “Spotlight,” an Afroganic Remix, as well as 25 minutes of bonus video footage that, according to Target, gives fans an inside look at Hudson’s album cover photo shoot, and behind-the-scenes footage of the making of "I Remember Me," including commentary from Hudson on her inspiration for the new album.