American Apparel Just Can’t Seem to Get it Together; Lululemon’s Un-zen-like Projections; Population Popularity

Overpaid…

Image courtesy of jesadaphorn/FreeDigitalPhotos.net

Image courtesy of jesadaphorn/FreeDigitalPhotos.net

Looks like American Apparel has some legal troubles, yet again. Only this time it’s not because of ex-CEO and founder, Dov Charney (sort of), who is apparently still trying to get his job back. The SEC launched an internal investigation into the apparel company over a very pricey review of the ousting of  Mr. Charney and all the unpleasant accusations against him, including several sexual misconduct allegations. However, to be fair, Mr. Charney’s lawyer called the allegations…don’t laugh now…”baseless.” So just how pricey was this review? Like $10.4 million pricey. Which seems expensive  considering the company’s stock was precipitously tanking, is hard up for $27.6 million with unpaid long-term loans, and has just about $8 million in cash. The price tag certainly got the SEC wondering if this major expense helped send the company into debt. The SEC wants to determine if any laws were broken during the review. But don’t hold your breath for any juicy details as the investigation is “non-public.”

Namaste…

Image courtesy of Master isolated images/FreeDigitalPhotos.net

Image courtesy of Master isolated images/FreeDigitalPhotos.net

Things are looking sort of zen at Lululemon Athletica as it announced its earnings with some decent numbers reported. The fitness apparel company took in profits of $111 million at 78 cents per share when analysts only predicted 73 cents a share. Last year the yoga apparel maker took in $109.7 million and 75 cents a share. But here’s where things aren’t so zen: Lululemon’s profit projections for the year are $1.85 – $1.90 – much less impressive than what analysts would prefer to see: $2.07 per share. It is kind of odd that Lululemon’s projections would be so much lower than analysts’ predictions considering the retailer has all these big revamping and expansion plans. So, it kind of got Wall Street wondering how much growth can they really expect to see from Lululemon following its successful holiday season. Hence, shares went down over 3%.

Booms and bummers…

Image courtesy of Craftyjoe/FreeDigitalPhotos.net

Image courtesy of Craftyjoe/FreeDigitalPhotos.net

Florida is where it’s at. At least according to the latest stats from the U.S. Census Bureau. Florida becomes the third most populous state, knocking New York off that perch. But a lot of that growth is coming from a place called The Village, Florida, ranked as the fastest growing city with a 5.4% population increase last year to 114,000 people. And with a name like that, of course tons of people are setting up house over there. Wish I was. But that was just one of the many cities experiencing major growth in the Sunshine State. Interestingly enough, and even a bit macabre, is the fact that these new residents helped offset the number of deaths of the many retirees who migrate to the state for their golden years, propelling Florida to a population of of 19.9 million people. New York only has 19.7 million. But California is the number one most populous state with 38.8 million folks.  Some of the other big winners, or rather gainers, were Williams County and Stark County, both in North Dakota, which earned the top spots for fastest growing counties. Of course, the booming oil industry and surplus of jobs can be thanked for that. A big loser? Wayne County, Michigan which took a population loss of about 11,000 people.

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