By Deborah Belgum | April 16, 2015
In the last year, gas prices in California have fallen 26 percent and the state’s unemployment rate has shrunk 1.3 percent, but skittish shoppers are still acting like there is a recession.
U.S. chain-store sales posted a 3.7 percent increase for August over the previous year, according to the International Council of Shopping Centers.
Jennifer Ehrhardt has been named chief financial officer of Irvine, Calif.–based teen surf chain Tilly’s, succeeding Bill Langsdorf, who announced his retirement earlier in the year.
Even though the economy is showing signs of improvement, a well-regarded consumer-spending index remained flat in July for the third straight month.
Bibby Financial Services, Marcum LLP
B.Riley & Co. forecast that sales will be weak for the Back-to-School season, and an analyst for the Los Angeles–based financial-services company cut his rating for Quiksilver Inc. from “buy” to “neutral.”
Two years after selling its majority stake in the Mexx retail chain to The Gores Group, Fifth & Pacific Cos. has agreed to pay the Los Angeles private equity firm $22 million to settle a complaint filed earlier this year in connection with the sale.
Fortune Swimwear LLC, the Culver City, Calif.–based private-label company founded by Fred Kayne, has been acquired by Coast Style Group, also based in Culver City.
At a July 29 special meeting, True Religion shareholders approved the company’s acquisition by TowerBrook Capital Partners at $32 a share, or $824 million.
The recent jump in long-term mortgage rates and bond rates means that short-term interest rates will be seeing their own increases down the road as the economy improves. The question is how much more will manufacturers and retailers be paying to borrow money, and when will that happen?
With housing prices showing healthy gains and the stock market posting healthy results, consumers are feeling more confident than last year, according to the 2013-2014 Mid-Year Economic Forecast and Industry Outlook released by the Los Angeles County Economic Development Corp. on July 17.
Strategies for finding an investor or selling a company were on the agenda at a July 9 panel discussion organized by the California Fashion Association and hosted by Kingpins, during the denim trade show’s July 9-10 run at the Cooper Design Space in downtown LA.
Joe’s Jeans Inc. signed a deal to acquire Hudson Clothing Holdings Inc. for $97.6 million.
BBCN Bank, Goodman Factors, Hana Financial, Inc., Milberg Factors, Inc., Rosenthal & Rosenthal, Wells Fargo Capital Finance
June sales beat forecasts reporting that U.S. chain-store sales increased 3.9 percent in June
Last year, uncertainty was in the air with an upcoming presidential election