American Apparel Inc. said Friday it had been given an extension until Nov. 15 by NYSE Amex LLC to file its official financial results for the second quarter ended June 30 and avoid being delisted by the exchange. The embattled Los Angeles-based retailer and wholesaler of trendy basics said it received a letter from NYSE Amex on Sept. 13 that its plan to regain compliance with listing criteria had been reviewed by the exchange and the extension granted. The firm had said its new independent auditor, Marcum, required more time to work through its numbers. AA’s ability to continue as a going concern has been in doubt since it said on Aug. 16 that, with debt of $120.3 million and second-quarter operating losses of between $5 million and $7 million, it “may not have sufficient liquidity necessary to sustain operations for the next 12 months.” Chief executive officer Dov Charney told WWD at the time, “The capital structure issues will work themselves out.” Last week, the company’s shares had the second strongest gains of the 171 public companies tracked by WWD, rising 29.2 percent to $1.46.
A room full of toiles at the haute couture atelier in the Dior exhibition at Les Arts Décoratifs, open in Paris since July 5. This is just one of three major exhibitions that have been timed to coincide with the house's 70th anniversary. See the rest of the exhibits, plus read WWD's look into the iconic brand's history. Link in bio. #wwdfashion (📷: @dominiquemaitre)
For spring, Pamplemousse's Danica Zheng presented her signature slip dresses attached to a white T-shirt along with floral windbreakers, off-the-shoulder cotton blouses and more. For more highlights from the New York trade shows, go to WWD.com. #wwdfashion
The Green Carpet Fashion Awards closed out Milan Fashion Week yesterday. The fashion industry flocked to the event, showing its efforts to support and spread the message of sustainability. Supermodel Gisele Bündchen said "if each one of us took at least one step is this direction, there is no saying how much could be done." #wwdeye #wwdfashion #mfw (📷: Lodovico Colli di Felizzano)
Etro’s show, titled “The Tree of Life,” was a celebration of the house’s 50th anniversary. “My father founded the company in 1968, which was the year of counterculture and psychedelia. It’s really a show that celebrates that and the paisley design of India and its origin,” said Veronica Etro. #wwdfashion #mfw #ss18 (📷: @delphineachard)
For @msgm’s spring 2018 show, creative director @massimogiorgetti said “Words, sounds, colors. Synthesis and therapy of a collection,” were the inspirations behind the collection, showing today. Read the rest of Milan spring 2018 inspirations on WWD.com. #mfw #wwdfashion #ss18
For her first solo album in over 10 years, Fergie tapped Carine Roitfeld, Mert and Marcus, Giovanni Bianco and more to create a fashion-focused video approach for the record, Double Dutchess. "Giovanni really helped me get back in touch with my tomboy side, my hardside," said the singer. #wwdeye #wwdfashion ( : @slovekinpics)