Buy-Back Plan

Six months after becoming a publicly traded company, American Apparel Inc. announced it would buy back some of its stock in a $25 million share-repurchase program. The repurchase program is expected to continue over the next 12 months. Stock buy backs will be made on the open market from time to time at the prevailing market rate. “This share-repurchase program reflects the confidence we have in our business and our commitment to presenting shareholder value,” said Adrian Kowalewski, the Los Angeles– based company’s director of corporate finance and development. American Apparel is a major manufacturer of clothing made in the United States. Its blank T-shirts, knit dresses and other clothing are made in a factory in downtown Los Angeles. The company also has 185 American Apparel stores in 15 countries.