By Deborah Belgum | May 24, 2018
Over the past five years, the creative economy in California has seen a growth spurt as more jobs have been added in the sector’s core areas of entertainment, fashion and publishing.
As American Apparel is shuttering its downtown Los Angeles clothing factory and laying off thousands of workers, hedge-fund investor Standard General is suing the various lenders that bailed the garment company out of bankruptcy for the first time last year.
The economy is expected to head down a positive path this year, but department stores and specialty-store chains will be hitting strong headwinds as more people shop online.
Capital Business Credit, the New York–based finance company with strong ties to the apparel industry, has been acquired for an undisclosed price by White Oak, a San Francisco firm that loans money to small- and medium-sized businesses.
In its economic forecast released on Dec. 15, the A. Gary Anderson Center for Economic Research at Chapman University in Orange, Calif., predicted a strong U.S. economy spurred by personal and corporate tax cuts, more spending on infrastructure and defense, and an easing of bank regulations.
The U.S. economy continued its glacial rebound in 2016 as key apparel industry indicators showed signs of improvement. But a deeper dive into the numbers makes it clear that some sectors fared better than others.
UCLA Anderson economists got caught by surprise when Donald Trump was elected to be the 45th president of the United States.
The first forecasts for the upcoming 2016 holiday season have been released, and they predict that retailers will enjoy solid sales during the crucial season which can comprise more than 20 percent of a retailer’s annual business, according to the National Retail Federation, a Washington D.C. retail trade organization.
Shoppers are flocking to online sites to snap up purchases while spending more money on dining out and traveling. This has left tried-and-true retailers and manufacturers in a quandary.
According to the recently released UCLA Anderson Forecast’s quarterly update, the next two years will be pretty much a repeat of the past several years—moderate growth with job gains. But future job gains won’t be quite as robust as in previous years.
Five months after filing for Chapter 11 bankruptcy protection, Pacific Sunwear of California has been acquired by a San Francisco private-equity investment firm.
The CIT Group Inc. named Darrin Beer Western regional sales and portfolio manager for the company, replacing Mitch Cohen, who has retired.
California Apparel News recently spoke with several finance-industry executives about what challenges apparel manufacturers are facing this year that they didn’t have to confront last year and how the presidential election is influencing consumer attitudes.
Minneapolis-based sun-protective apparel and accessories maker Coolibar Inc. has been acquired by Olivarius Hospitality California, a Santa Barbara, Calif.–based company owned by Olivier Leclercq.
Rosenthal & Rosenthal, a finance company specializing in factoring and asset-based lending, announced it is starting a new division called Rosenthal Trade Capital to provide alternative inventory-financing solutions to cash-constrained companies.
As consumers continue to adjust their buying habits and purchase less on apparel, retailers are tweaking their business models to keep shoppers coming through the doors.