American Apparel Responds to SEC Story
A spokesman for American Apparel took issue with yesterday's New York Post article that claimed AA was being investigated by the Securities Exchange Commission.
"American Apparel is a good L.A. company," Ryan Holiday wrote in an email to the L.A. Weekly. "It's nowhere near bankruptcy, it would be helpful if your readers didn't get the wrong impression."
Holiday's email referred to an updated Reuters online story that carried a denial from AA's in-house general counsel, Joyce Crucillo, of any knowledge of an SEC investigation.
On January 8 the company filed a press release with the SEC disclosing that its December, 2008 "comparable stores" sales had increased 3 percent over December, 2007's sales. Its comparable-stores sales for December, 2007 had been 37 percent above December, 2006's. The release also noted that AA had opened 14 new stores this past December.
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