American Apparel executive resigns
New York City — Former American Apparel CFO Adrian Kowalewski resigned as executive VP corporate strategy, according to a regulatory filing with the Securities & Exchange Commission this morning, Women’s Wear Daily reported.
Kowalewski entered into a separation agreement, in which he will receive an unpaid base salary through the Oct. 7 separation date, any unreimbursed expenses and vesting of the 1,066,666 unvested shares of restricted stock previously awarded to him, the report said.
Office Depot stores hold top three energy-efficiency spots in EPA competition
Boca Raton, Fla. — Office Depot said Tuesday that three of its stores hold the top spots for retail energy efficiency gains at the midpoint of the U.S. Environmental Protection Agency’s Energy Star National Building Competition.
The EPA has marked the midpoint of the 2011 Energy Star National Building Competition: Battle of the Buildings by releasing a list of Top Contenders for each building category, as well as the progress of all competitors. Office Depot stores in Plano, Texas, Raleigh, N.C., and Tallahassee, Fla., are the three top contenders, respectively, in the retail category.
The Plano store has experienced a 17% energy reduction at the midpoint in the competition.
Tuesday Morning Q1 sales dip 1.2%
Dallas — Tuesday Morning Corp. reported Tuesday that net sales for the quarter ended Sept. 30 edged down 1.2% to $170.7 million, compared with $172.8 million in the year-ago period.
Same-store sales for the period declined 4.1%, comprised of a 5.2% decrease in traffic offset by a 1.1% increase in average ticket.