California Apparel News

Several industry leaders and organizations made their mark on the California fashion community in the year 2001. Some made an impact through mergers, acquisitions and bold business gestures. Others took legal measures to protect local business. And still others joined forces to put a much-needed spotlight on California’s design community. All were influential in shaping California’s apparel and textile community this year.

L.A. Fashion Week Organizers

Over the past few years, Los Angeles Fashion Week has been growing, with more designers and manufacturers joining the effort each season. But this fall’s edition marked a high point in that endeavor and attracted national and international attention. The effort was greatly aided by Los Angeles public relations firms SPR and People’s Revolution and by Coalition of Los Angeles Designers (CLAD).

SPR, formed at the beginning of the year by Sara Stein and Margaret Schell, secured corporate sponsorship from automaker Audi and took a group of six local designers to Spring Fashion Week in New York under the banner Audi Presents Collections of Los Angeles Fashion Week. Its efforts were not fully realized when four of the shows were cancelled in the wake of the Sept. 11 attacks. But undeterred, the firm formed another group of designers to present their collections in back-to-back shows during Los Angeles Spring Fashion Week. The result, again under Audi’s sponsorship, was a well-produced, nearly seamless day of fashion attended by press, stylists and celebrities.

People’s Revolution continued its sponsorship of designer shows, including a well-attended showing by Michelle Mason at the historic St. Vibiana’s Cathedral in downtown Los Angeles. And CLAD, with new focus on promoting local designers and acting as an educational and informational resource, handled the formation of the Los Angeles Fashion Week calendar and wrapped up the 16-event week with its own fashion show and party in Hollywood.California Market Center Los AngelesHailed as the deal of the year in Los Angeles’ fashion district, the entry of the Dallas Market Center (DMC) into the California Mart is being eyed as a much-needed boost to area real estate and the district’s vitality.

The DMC’s plans to turn one-third or one million square feet of the Cal Mart into a destination for the gift industry marks a look of things to come as consolidation becomes a way of doing business in the 21st century. The DMC itself is joint venturing with United Kingdom-based DMG World Media, Trammell Crow Co. and George Little Management LLC to launch the California Market Center in January.

Currently the DMC group is looking to take over management of the entire center.

With apparel companies struggling along with other consumer-related industries, the DMC deal may set a standard for how different companies and sectors can cross-merchandise and strategize together to enhance their bottom lines.

Joe Rodriguez Executive director, Garment Contractors Association of Southern California (GCA) and Contractors Alliance of California (ACAC)

Rodriguez once again took up the garment contractors’ cause with his recently announced plans to launch a campaign against the California Labor Commissioner’s proposed regulations for AB633.

The legislation was crafted two years agoto extend liability for labor law violations to all parts of the apparel production supply chain, from contractor to retailer, but has yet to be enforced. The newest set of regulations is a violation of equal protection of the law and compromises fair competition in California’s garment industry, according to Rodriguez, who, with his supporters, have retained legal assistance from Sheppard, Mullin, Richter & Hampton. Rodriguez said he and his supporters may contest the matter in court, depending on how the labor commissioner rules.

This unflagging support of local contractors is typical of Rodriguez, who has positioned himself tightly in California’s garment industry after 13 years of experience. He currently represents 1,200 contractors who employ about 75,000 garment workers in the state, and this year marks his sixth year serving as director for ACAC.

Besides GCA, the ACAC umbrella includes American Chinese Garment Contractors Association, Northern California Chinese Garment Contractors Association and Korean American Garment Industry Association.

Previously, Rodriguez spent more than 23 years as an officer and stockholder in Tobias Inc., a domestic men’s sportswear manufacturer that has since shuttered its operation.

Barbara Brady Director, ISAM

Brady shook up the swim industry when she announced plans to move the biannual International Swimwear/Activewear Market from its Cal Mart roots and reestablish the show at the Santa Monica Civic Auditorium.

Brady got her first job in Los Angeles’ garment industry in the 1950s after she answered an ad in the newspaper for a young model. A few decades later, she was working with DuPont at the Merchandising Group in New York when DuPont’s Warren Gaudineer, then the company’s account manager of swimwear and activewear and ISAM’s director, asked Brady if she would be interested in becoming ISAM’s new director. That was 1989, when ISAM’s membership was made up of 96 manufacturers and 22 associate members. Today ISAM’s membership stands at 155 manufacturers and 31 associate members.

In addition to serving as a board member for Swim Environmental Awareness, Brady has been the lead organizer for the Swim Association under the American Apparel & Footwear Association for the past 12 years. And even though the Miami Swim Show carries the lion’s share of the swim business, Brady continues to think up strategies that will maintain ISAM as a positive force in swimwear.

Brady implemented several plans for ISAM to help boost the show’s status, including July Pre-line, a swim show that didn’t go over well with manufacturers because it took place the week before Miami market. And last year, Brady decided to change the organization’s image by rejuvenating ISAM’s inactive board by installing a new committee made up of key ISAM members.

ISAM’s decision to move to Santa Monica has been met with some criticism from industry watchers who say the new move will split an already fragile marketplace. Nonetheless, Brady continues making plans for ISAM’s Oct. 9–11, 2002 debut in Santa Monica with the swim industry’s major players behind her.

Association of Textile Dyers, Printers and Finishers Los Angeles

Led by President Scott Edwards, the Association of Textile Dyers, Printers and Finishers (ATDPF) was a beacon for apparel industry suppliers battered and beaten during a long hot summer of soaring energy prices that put such veteran dyers as Anaheim Mills and L.A. Dye and Print Works out of business.

The ATDPF was the industry’s watchdog and voice during the crisis and remains its main vehicle for education and information resources. The trade organization was instrumental in lobbying congressional leaders to put the pressure on energy companies and regulators during the crisis. It moved quickly to host meetings with dye houses that helped to open up negotiations between dyers and energy companies.

The ATDPF didn’t stop at the energy crisis. It works regularly on ways to help members cut costs and keep in compliance with the latest changes in environmental laws. Edwards more recently has been helping members find new alternatives to natural gas, including microwave technology, to dry and cure knits and wovens. The ATDPF will continue to be the industry’s eyes and ears as energy issues remain near the top of the list of concerns for garment dyers and finishers.

Steve Needleman President, ANJAC Fashion BuildingsLos Angeles

Steve Needleman and ANJAC are at the core of Los Angeles’ urban renaissance. Having recently resurrected the historic Orpheum Theatre, Needleman next year plans to convert the upper 12 floors of the downtown building into 60 to 70 loft-style apartment units. This plays right into a master plan of urbanizing the fashion district into a more livable environment for work and play.

Making such an investment means taking a risk, but Needleman isn’t backing off. He believes the fashion district will be an important part of the Los Angeles cityscape for years to come. His ANJAC continues to be a prime source for those smaller companies that fuel California’s apparel market, the sewing contractors and $1 million to $3 million companies that may not have the big labels but serve important needs.

With the Orpheum opening to stellar reviews and strong bookings, Needleman’s next step is to bring the 2,000-seat theater into the fashion fold as he hopes to host several fashion shows there in the future.

New Mart Los Angeles

Currently at 100 percent occupancy with more than 100 showrooms, the 74-year-old, 12-story building was transformed into a modest-sized fashion mart during the early 1980s. Now, the New Mart is mostly known for its cutting edge in its assortment of hip, contemporary showrooms, including Hatch, Laurie Hasson Sales, Terry Sahagen Sales and Kristi Harris.

The building is also home to the Designer & Agents and D&A Annex shows that introduce New York and European lines to West Coast contemporary boutiques. The shows’ combined use of the New Mart’s third-floor exhibition space five times a year during market weeks helps draw a hefty crowd of buyers to shop the market.

Current plans for the New Mart include opening its doors to additional trade shows and other apparel-related events in the near future. New Mart director Ethan Eller said efforts to attract new buyers are already underway, and additional uses for third-floor space are in the works.

Textile Association of Los Angeles (TALA)

TALA is both source and resource for designers and textile representatives, providing referrals to manufacturers looking for specific fabrics and trims and providing a central organization for industry information. But this year, the organization stepped out and called on their members, accounts and other industry leaders to support the Los Angeles industry by producing locally. The argument: Los Angeles has the means and the ability to produce quality, on-time merchandise despite the current climate of global uncertainty which could seriously delay overseas shipments. As a result, those who work with TALA members will discern a new positive attitude in the group.

TALA’s efforts to encourage local business have not kept them from their other efforts to assist the community at large. TALA has always been a dedicated supporter of such philanthropic groups as Save a Life, the Fashion Industries Guild of Cedars-Sinai Medical Center and the City of Hope, as well as diligently organizing its own good deeds, such as an annual holiday party for neighborhood youth groups, scholarship awards for local students and its annual blood drive.

Tyco Capital New York

This past June, Tyco International Ltd., a manufacturing and service company that serves as a primary factoring resource for the apparel industry, completed an acquisition of CIT to become the largest factoring resource in the world. The company name was changed to Tyco Capital in October and the new entity stands as a major source of financing and leasing capital for more than 30 industries, including the apparel industry.

Also in October, Tyco Capital reported a 34 percent increase in fourth-quarter earnings per share, demonstrating an ability to grow during good and bad economic times. Tyco Capital’s strong growth will provide more power in its investment in targeted businesses, providing them with the means to expand in tough circumstances.

Tyco Capital also assists with community development through specific financial instruments, including Small Business Administration (SBA) loans provided by the CIT Small Business Lending Corp., a division of the company. Earlier this month, the U.S. SBA announced that Tyco Capital, through the CIT Small Business Lending Corp., provided a record number of SBA loans in the Los Angeles area, specifically to minority-owned small businesses.

The U.S. SBA named the CIT Small Business Lending Corp. the nation’s top lender to small businesses for the second year in a row for the fiscal year ending September 2001. It credited the CIT Small Business Lending Corp. with a total of $578 million in authorized loans to 1,271 businesses nationwide.

Ilse Metchek Executive director, California Fashion Association (CFA) and LA By Design

Metchek, an omnipresent figure in the local apparel community, heads up both the CFA, the de facto forum for Southern California’s apparel and textile industries, and LA By Design, a unit of the Los Angeles County Economic Development Corporation.

Earlier this year, she added being named Person Of The Year to her list of achievements when she was honored by the Fashion Industries Guild of Cedars-Sinai Medical Center for her service to the Los Angeles apparel business.

Metchek helped organize Technology By Design, a trade show featuring design-based technology exhibitors held at the Cal Mart in August.

In pursuit of the mission of CFA, Metchek organized an Apparel Summit to discuss the current economic downturn and the events of Sept. 11 and their effect on the apparel and textile industries in Los Angeles. The results of that summit were pragmatic solutions to financial difficulties facing manufacturers in the apparel industry. Metchek also worked with Coalition of Los Angeles Designers to organize a seminar series on chargebacks, labor law, human resources and copyright issues for the apparel industry.

Metchek, a former designer who created her own label and even did a stint as executive for the Cal Mart, is a tireless advocate for the apparel industry and makes her presence felt at industry events.

Jack Kyser Chief economist for the Los Angeles County Economic Development Corporation (LAEDC)

One of the most-often-quoted people in Los Angeles business, Kyser keeps his eye on all sectors of industry, including apparel and textiles, in his position at the LAEDC, a private, non-profit organization established in 1981 with the mission to attract, retain and grow businesses and jobs in the Los Angeles region.

The LAEDC provides economic information and analysis, direct business assistance, networking and focused economic development strategies to assist in the growth of business in Los Angeles. Businesses in the apparel industry regularly turn to LAEDC for economic information. Kyser regularly makes himself available as an economic resource for the apparel industry, providing information and analysis of employment and financial conditions facing manufacturers. California Apparel News is one of many media outlets that retain Kyser in the editorial department’s rolodex as a valuable economic resource.

Cooper Building Los Angeles

The Hirsh family, specifically patriarch Stanley, who owns the Cooper Building, and son Steven (pictured), who helms the operations, has made it their business to re-create the building as a focal point in the downtown fashion district for manufacturing and sales.

The building houses manufacturers and support services, including textile sales, digital pattern makers and sample makers. New tenants include Wet Seal’s Arden B., Blanc Noir, Corey Lynn Calter, Rosa John and Church Girl. Steven Hirsh said that the business for the building is growing, with the space roughly 75 percent leased, after starting the year off at 60 percent occupancy. Initial attempts to shift to a business-to-business model seem to be working, according to Hirsh, who noted that the former focus on retail has diminished. Management will now look for retailers that support the building’s existing tenants.

The current goal is to turn the Cooper Building into a model of business-to-business commerce for small- to medium-sized manufacturers, with representatives from different segments of the apparel industry calling on other tenants of the building to do business.

“We attract people from outside of the downtown area who can get nearly everything done in the building short of cutting and sewing,” said Hirsh.

Kent Smith Executive director of the Los Angeles Fashion District Business Improvement District (BID)

Led by Smith, the BID made giant strides to promote the visibility of downtown Los Angeles’ fashion district while also making it a cleaner and safer place to work, shop and do business. Smith’s guidance will be looked to in the months and years to come as the district continues to gain importance as a world fashion capital.

Under his leadership, the BID has made much-needed improvements in terms of security and aesthetics and lately has been doing the same in marketing. Media campaigns have put the district in a favorable light on numerous TV news programs and in print media. The appeal is luring commercial tenants back to the district too.

Having recently been elected to the Community Redevelopment Agency Project Area Committee, Smith will help establish priorities for area redevelopment. Among the slated improvements are a $1.2 million streetscape pedestrian improvement project funded by the Metropolitan Transit Authority (MTA). He’ll be keeping tabs on private projects as well, including the Maple Fashion Walk project at 15th and Maple for wholesale menswear businesses and the Crocker Mart Phase 2, a new development of juniors and plus-size clothing that will open next year and is pushing the eastern boundary of the fashion district past San Pedro Street. With additional growth coming from the Cal Mart/California Market Center, the challenges will continue for Smith and the BID.

MJW Investments Los Angeles

Mark Weinstein of MJW Investments is jumping headfirst into Los Angeles fashion district real estate. As owner of the historic Gerry Building and co-author of the massive Santee Court mixed-use development, which will entail 780,000 square feet of residential, retail and commercial space, Weinstein wants to make the district the jewel of the city, a place where people can work, play and live in one central location.

Santee Court is still a year from groundbreaking, but Weinstein is betting big on fashion now. He’s renovating the art deco Gerry on Los Angeles Street with 115,000 square feet of new showrooms, which he hopes will follow the lead of the New Mart and become well-niched into the fashion picture. Weinstein has hired Larry Hudson, formerly of the Cal Mart, to oversee leasing for MJW and is committed to the district with other real estate interests.

For Santee Court, he’s hosting a number of public design “charettes” to get input from the district on what the project should look like. Whether or not this part of Los Angeles becomes the next Soho, where designers can work in their lofts and walk downstairs for a cafeacute; latte, Weinstein will be one to watch as the cityscape further evolves.

Gen Art Los Angeles

With a mission to spotlight up-and-coming local design talent, Gen Art’s annual Fresh Faces in Fashion show has become the much-anticipated unofficial start to Los Angeles Spring Fashion Week. Proof is in the legions of fashiongoers who are drawn each year to the annual event.

About 2,000 people from the art, entertainment, fashion, music and multimedia industries turned out for this year’s show at the dusty-but-still-fabulous Los Angeles Theatre in downtown to see more than a dozen local clothing and accessories designers. The show, which was produced by veteran show organizer Megan Griffith, spotlighted on-the-rise contemporary designs, including Rami Kashou’s eveningwear with avant-garde stylings and SHAWN by Yohanna Logan vintage halter tops paired with tailored denim, as well as artistic and edgy jeweled accessories by Monika and Hand Maid by Michelle Frantz. Luminaries and rising rebels, including Lisa Marie, Henry Duarte, Leon Max and Nikka Costa, were on the host committee.

Gen Art was founded in New York in the early 1990s as a non-profit group that spotlights emerging talent in visual arts, fashion and filmmaking. The group—which kicked off its first Los Angeles show in 1998—has maintained a clear focus on West Coast fashion.

On the horizon, Griffith’s plans include expanding Gen Art’s calendar events in Los Angeles to help spur a formal fashion week on the West Coast. Also, next year, Gen Art will host a “Spring Fling,” a day of emerging West Coast art and music, and an Alumni Designers show, featuring its best designers who previously debuted in Los Angeles shows. Dates and locations for events will be announced early next year.

Los Angeles’ Denim Darlings Earl Jean, Fever Jeans, Bella Dahl and Hippie Jeans

What started with a unique pair of low-rise bootleg jeans turned into a year of outta-sight acquisitions for Los Angeles denim darlings Earl Jean, Fever Jeans, Bella Dahl and Hippie Jeans. Both Earl Jean and Fever Jeans joined larger conglomerates earlier this year in an effort to become household brand names. But the purchase also benefited the buyers, who expanded their presence in upscale specialty retail stores.

Earl Jean’s husband-and-wife team, Ben and Suzanne Freiwald, were the first to jump on the bandwagon when New York-based Nautica Enterprises offered the couple a cash-and-stock transaction estimated at $45 million in cash and over one million shares in stock. Since then, the company has expanded its category to include accessories and shoes and is getting ready to announce the debut of a menswear collection for Fall 2002.

Even though former owner and chief executive officer Ben Freiwald announced recently that he was stepping down from his position of overseeing the company’s day-to-day operations, Suzanne continues to head-up the company’s design direction. And even though sales are still strong, industry sources say they are uncertain what’s next for Earl Jean. In the meantime, the company continues to operate retail stores in Los Angeles and the newly opened retail store in the Soho section of New York.

Fever Jeans designers John Cherpas and Kellie Delkeskamp retained full design control of their basic denim as well as creative support for future lines when they merged with Calabasas, Calif.-based John Paul Richards. In return, the missy manufacturer gained access to the contemporary market via Cherpas and Delkeskamp labels Josephine Loka, John Cherpas and Fever Jeans. The company will debut a leisurewear line for Spring 2002, which will precede the introduction of contemporary sweaters for Fall 2002. In recent months Cherpas and Delkeskamp have decided to put Josephine Loka “to sleep” to concentrate on Fever’s offerings. The company also recruited Rea Laccone, former president of Laundry by Shelli Segal, to head the company’s merchandising division.

Commerce, Calif.-based private-label denim maker Azteca International picked up husband-and-wife design team Jeff and Kim Lubell from contemporary labels Bella Dahl and Jefri Jeans to launch a new contemporary women’s and men’s label—Hippie Jeans. The Lubells, who launched Bella Dahl and Jefri Jeans in 1999, split with the Sun Valley, Calif.-based Jolna Design Group in mid-2001 after a very brief partnership that left Jolna in control of the couple’s two red-hot labels.

TrizecHahn Corp. Ontario, Canada

It’s been a challenging year for TrizecHahn Corp., whose Southern California retail projects—Hollywood & Highland and Paseo Colorado in Pasadena—were long hailed by supporters as linchpins to economic progress in their respective communities. Built under the arm of TrizecHahn Development Corp., the company’s grand plans came to reality this year, but the sizzling economy vanished. Now, TrizecHahn wants to get out of the retail business by 2004, but not before the two centers and the company’s third asset, the Desert Passage mall at the Aladdin Resort & Casino in Las Vegas, are fully operational.

The $615 million Hollywood & Highland center, which opened Nov. 9, hopes to attract 10 million visitors annually, and is banking on the local community for holiday sales given the tough tourism climate. Sales at the $130 million Paseo Colorado outdoor center, whose stores include BCBG Max Azria, Coach, Lucky Brand Dungarees and Max Studio, have been running above projections. Analysts say the two centers stand to benefit from their newness and appeal to shoppers, but the challenges at the Aladdin could prove more troublesome. The year-old resort is in the midst of a bankruptcy reorganization and is failing to attract customers, say a number of merchants at the 130-store Desert Passage, which operates independently from the Aladdin.Hot Topic City of Industry, Calif.It’s all about the music and the profits at Hot Topic. The teen retailer has been on a tear—sales have skyrocketed from $23 million in 1995 to over $257 million last year. Net income, while cooling from back-to-back 72 percent and 125 percent increases in the past two years, has grown 25 percent year-to-date compared to the previous year. The company’s hot streak continues in spite of the retail downturn, all because Hot Topic’s 350 mall-based stores carry items not available elsewhere, says president and chief executive officer Betsey McLaughlin.

“Our company culture focuses on constant feedback and despite the market’s economic difficulties, we’re still able to react quickly, keep our fingers on the pulse and provide customers with products they want right now,” McLaughlin said.

To get a read on the market, Hot Topic hires its own customers—piercings, tattoos, blue hair and all—and gives them incentives to attend concerts and observe the clothing and trends. McLaughlin herself attended the hard-rock Family Values Tour recently to get a read on the market. For further insights, the company last September elected Cynthia R. Cohen, founder and president of teen consulting firm Strategic Mindshare, to its board of directors.

Shoppers should note that the company’s stores don’t ooze wholesome fun. Inventory ranges from the wall-sized array of classic, punk and metal band T-shirts—including Blink 82 and Limp Bizkit—to the pleather pants and fishnet shirts from the company’s private-label brand, Morbid (which accounts for 20 percent of sales).

On track to double its number of store locations in the next five years, Hot Topic plans to open 65 stores in 2002. Seeking out yet another niche, Hot Topic launched its plus-size concept, Torrid, this past year at Brea Mall in Brea, Calif., Mission Valley Mall in San Diego and four other locations nationwide. Plans call for 15 more stores in the next year.

Rodeo Drive Beverly Hills, Calif.

The bad news for Rodeo Drive is the luxury market is taking a beating. The good news is fashion houses and upscale designers still say Rodeo is No. 1 when it comes to the ultimate address, which means flagship stores there are rising faster than the prices on the three-block stretch north of Wilshire Boulevard.

Christian Dior opened its 5,000-square-foot flagship in December and BCBG Max Azria created its limestone 5,600-square-foot Los Angeles-area flagship in August. Earlier this year, Valentino debuted its expanded 7,000-square-foot store and Brioni opened its three-story, 3,000-square-foot unit featuring men’s and women’s suits, jackets and casual sportswear.

“Rodeo Drive is all about luxury and Hollywood and glamour and beautiful goods,” traits emblematic of Italian jeweler Bulgari, said store manager Tobi Sargent, whose company is erecting its biggest store in the United States on Rodeo.

The street’s monthly rents, which were peaking at $25 a square foot this past year, have eased to around $20 a square foot—still a premium for most retailers. Those who can fork it out are eager to stay on the radar screen of celebrities, tourists and the well-heeled.

“These retailers want to be where their contemporaries are,” said Chuck Dembo, a partner at the commercial brokerage Dembo & Associates.

Last year, design duo Dolce & Gabbana brought their glamour to Rodeo with a two-story, 4,700-square-foot store.

Prada is next to bow with its 21,000-square-foot store on Rodeo in January, an expanded version of its current location. Bulgari, whose third-quarter sales plummeted 28 percent in North and South America, is in the works to open a 10,000-square-foot unit next summer by taking over the spaces three stores north of its current location. An espresso bar, a vintage museum and an in-house public relations office will all be housed at the location, whose interior design is still being finalized, Sargent said.

New Rodeo arrivals for 2002 also include Sergio Rossi, Walter Steiger shoes and Furla handbags and accessories, said Peri Ellen Berne, president of the Rodeo Drive Committee and manager of La Perla. Wet Seal Inc. Foothill Ranch, Calif. What started out as a bikini shack in 1962 has turned into a company worth $453.6 million. Wet Seal Inc. is managing to continue to draw teen shoppers in and deliver those denim and knit trends while a number of other youth-oriented retailers are posting threadbare sales and profits in this topsy-turvy economy. For Wet Seal, the payoff has come from a stepped-up marketing campaign that is aligning the company with customer tastes and hobbies—from booths at concerts to sporting-event sponsorships.

“We want to be where our customer is,” said Steven Strickland, Wet Seal’s senior vice president of creative and marketing. “We want to make that connection.”

The company’s most high-profile coup—announced earlier this fall—was a partnership with the WB’s reality TV series “Popstars.” The chain dresses the series’ featured music group and its fashion director appears on the show as the group’s design director. Wet Seal also launched a special line of clothing under the “Popstars” label.

Like other retailers, Wet Seal’s mall-based 582 stores have suffered in the aftermath of the Sept. 11 terrorist attacks, as evidenced by the company’s 3.2 percent same-store sales increase in September and subsequent 4.6 percent decrease in October. But, the company’s third-quarter earnings soared 72 percent, marking the fifth consecutive quarter of earnings growth.

Under the leadership of vice chairman and chief executive officer Kathy Bronstein, Wet Seal’s divisions are poised for expansion with plans to open 50 Wet Seal stores, 20 Arden B. stores and 15 Zutopia locations next year.

Retail, however, is still in for a bumpy ride in 2002 and Wet Seal may be affected. Two of the three analysts following the company rate the stock as a “hold.” Meanwhile, Wet Seal is under the watchful eye of Wall Street following a management shuffle this past summer when the company’s chief financial officer, Ann Cadier-Kim, abruptly resigned in June. Her replacement, Walter Parks, also took over the duties of Christopher Staff, president and chief operating officer, who resigned in August after less than three months with the company.

Compiled by Claudia Figueroa, Darryl James, Robert McAllister, Alison A. Nieder and Nola Sarkisian-Miller