FINANCE

American Apparel Gets Credit Extension

BY CSA STAFF

Los Angeles American Apparel said Monday that is has received a three-month extension from its revolving credit and second lien credit-facility lenders. The amendments require American Apparel to pay the debts on April 20. The original debt was set to mature on Jan. 18.

The new amendments, which include the payment extension and imposes additional legal obligations, enables the company to operate its business according to its plan while continuing discussions with its lenders and other parties regarding longer-term financing. The amendments have been filed with the Securities and Exchange Commission.

The company plans to end 2008 with 80 new stores under its belt,  and said it expects to report a double-digit same-store sales increase over 2007.

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Hannaford to implement Retail Solutions POS service

BY CSA STAFF

SUNNYVALE, Calif. Hannaford, which operates 167 stores in the Northeastern United States, will start sharing product point-of-sale (POS) data by store, by day and by SKU using Retail Solutions Demand Signal Management (DSM) solution.

“We look to Retail Solutions to help our suppliers access and leverage our data,” said Scott Craig, director of supply chain services, Hannaford. “Retailer-supplier collaboration is a key strategy for Hannaford and we need a single version of the truth – a rich, up-to-date data set on which to base our decisions. Retail Solutions provides this data foundation at a minimum effort and cost for all parties.”

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SuperTarget among healthiest groceries

BY CSA STAFF

MINNEAPOLIS Health magazine has chosen SuperTarget as one of the top ten healthiest grocery stores in the United States.

To chose the 10 healthiest stores, Health magazine teamed up with a panel of nutrition experts to review the 35 largest grocery stores on  freshness of produce, taste of prepared foods, healthfulness of packaged goods and availability of supplemental nutritional information.

“The recognition by Health magazine acknowledges our commitment to providing SuperTarget guests with healthy, high quality food options at low prices,” says Greg Duppler, senior vp of Target. “Through our certified organic produce department, better-for-you food choices and Archer Farms collection, SuperTarget makes healthy shopping easier for our guests.”

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