REAL ESTATE

American Apparel to open new store in Paris

BY CSA STAFF

Los Angeles American Apparel said Tuesday it has opened a new store at La Defense, one of the most important business and shopping districts in Paris.

The 1,700-sq.-ft. store is located near Gap, H&M and Zara.

“We relish the opportunity to open a store in such a prime location in a great shopping complex. The visibility we have here allows us to feature our diverse line of new products, while offering a convenient reminder to passing customers who might need to stock up on basic apparel,” said Marsha Brady, a creative director for American Apparel.

The retailer currently has 10 stores in France.

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FINANCE

German court approves Karstadt takeover plan

BY CSA STAFF

Berlin A German court has given the go-ahead for an investor to take over the country’s bankrupt Karstadt department store chain with its 25,000 employees, according to a Friday report by the Associated Press.

Karstadt has been under an insolvency administrator since parent Arcandor AG filed for protection in June 2009.

The German news agency DAPD reported that an administrative court in Essen on Friday approved a plan for financial investor Nicolas Berggruen to take over the chain. Berggruen was chosen to take over Karstadt in June but the plan then got delayed while negotiating over rent levels for its approximately 120 stores.

An agreement by the buildings’ owners to lower rents paved the way for a final deal this week, according to AP.

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FINANCE

Duckwall-Alco same-store sales dip in August

BY CSA STAFF

Abilene, Kan. Duckwall-Alco Stores said late Thursday that same-store sales dipped 0.8% in August.

Total revenue rose 1.1% to $33.4 million due to improved inventory control, higher productivity and stronger marketing, said the company.

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