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Clothing retailer Abercrombie & Fitch are continuing the apology tour, once again telling those angered by comments from CEO Mike Jeffries that they’re sorry for any offense they caused. Earlier this month, comments made by J...
Clothing retailer Abercrombie & Fitch are continuing the apology tour, once again telling those angered by comments from CEO Mike Jeffries that they’re sorry for any offense they caused. Earlier this month, comments made by Jeffries during a a 2006 interview with Salon surfaced, and they hit with a thud. Jeffries said that yes, his store is exclusionary, and implied that their clothes aren’t for unattractive people. “In every school there are the cool and popular kids, and then there are the not-so-cool kids. Candidly, we go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely….”That’s why we hire good-looking people in our stores. Because good-looking people attract other good-looking people, and we want to market to cool, good-looking people. We don’t market to anyone other than that,” he said. That sparked a massive backlash, and the company was forced to apologize. Last week, Jeffries posted a note to Abercombie’s Facebook page: I want to address some of my comments that have been circulating from a 2006 interview. While I believe this 7 year old, resurrected quote has been taken out of context, I sincerely regret that my choice of words was interpreted in a manner that has caused offense. A&F is an aspirational brand that, like most specialty apparel brands, targets its marketing at a particular segment of customers. However, we care about the broader communities in which we operate and are strongly committed to diversity and inclusion. We hire good people who share these values. We are completely opposed to any discrimination, bullying, derogatory characterizations or other anti-social behavior based on race, gender, body type or other individual characteristics. And now, the company has apologized again. “We look forward to continuing this dialogue and taking concrete steps to demonstrate our commitment to anti-bullying in addition to our ongoing support of diversity and inclusion. We want to reiterate that we sincerely regret and apologize for any offense caused by comments we have made in the past which are contrary to these values,” said the company after a meeting with protesters at their Columbus, Ohio headquarters. When controversy like this strikes a major company, apologies don’t hurt. But can they repair their image and make thing right with those who feel that message hurts people? That remains to be seen. What do you think?
23 minutes ago
The Gap (GPS) Q1 2013 Earnings Call May 23, 2013 5:00 pm ET Executives Katrina O'Connell Glenn K. Murphy - Chairman and Chief Executive Officer Sabrina L. Simmons - Chief Financial Officer, Principal Accounting Officer and Executive...
The Gap (GPS) Q1 2013 Earnings Call May 23, 2013 5:00 pm ET Executives Katrina O'Connell Glenn K. Murphy - Chairman and Chief Executive Officer Sabrina L. Simmons - Chief Financial Officer, Principal Accounting Officer and Executive Vice President of Finance Analysts John D. Morris - BMO Capital Markets U.S. Kimberly C. Greenberger - Morgan Stanley, Research Division Matthew McClintock - Barclays Capital, Research Division Oliver Chen - Citigroup Inc, Research Division Janet Kloppenburg Adrienne Tennant - Janney Montgomery Scott LLC, Research Division Irwin Bernard Boruchow - Sterne Agee & Leach Inc., Research Division Lorraine Maikis Hutchinson - BofA Merrill Lynch, Research Division Jennifer M. Davis - Lazard Capital Markets LLC, Research Division Randal J. Konik - Jefferies & Company, Inc., Research Division Brian J. Tunick - JP Morgan Chase & Co, Research Division Presentation Operator Good afternoon, ladies and gentlemen. My name is Amber, and I will be your
36 minutes ago
Even the president of the United States can’t keep his prom photos a secret. Not that he’d want to – a white jacket and a blue tie is a good look for President Obama. But still, come on, right? The photos come from a fo...
Even the president of the United States can’t keep his prom photos a secret. Not that he’d want to – a white jacket and a blue tie is a good look for President Obama. But still, come on, right? The photos come from a former classmate, Kelli Allman, who attended Punahou School in Hawaii with the President back in 1979. TIME Magazine originally obtained the photos. Allman’s yearbook also contains a note from Obama (then Barry Obama), which reads: Kelli, It has been so nice getting to know you this year. You are extremely sweet and foxy. I don’t know why Greg would want to spend any time with me at all! You really deserve better than clowns like us; you even laugh at my jokes! I hope we can keep in touch this summer, even though Greg will be gone. Call me up, and I’ll buy you lunch sometimes. Anyway, good luck in everything you do and stay happy. Your Friend, Barry Obama “Greg” refers to Greg Orme, a basketball player and Obama’s close friend at the time. As to what happened at the prom: “It was a really fun, happy time. We were all cracking up, and everyone was smiling,” said Allman. “It was pretty typical from there out as far as what happens at prom: the dinner and the dancing and the photos.”
42 minutes ago
Vanguard Natural Resources is pumping out a higher payout for its unit holders. The company has declared its monthly distribution for April, which is to be $0.2050 per unit, paid on June 14 to holders of record as of June 3. That amount...
Vanguard Natural Resources is pumping out a higher payout for its unit holders. The company has declared its monthly distribution for April, which is to be $0.2050 per unit, paid on June 14 to holders of record as of June 3. That amount is incrementally higher than the firm's March distribution of $0.2025. Vanguard Natural Resources had paid that amount in every month stretching back to last December. Prior to that, it handed out an even $0.20 per share. The new distribution annualizes to $2.46 per share. That yields 8.4% at Vanguard Natural Resrouces' most recent closing stock price of $29.41.
43 minutes ago
rue21 Investor Alert by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates rue21, Inc. Following Announcement of Proposed Sale of Company to funds advised by Apax Partners NEW ORLEANS--(BUSINESS WIRE)-- F...
rue21 Investor Alert by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates rue21, Inc. Following Announcement of Proposed Sale of Company to funds advised by Apax Partners NEW ORLEANS--(BUSINESS WIRE)-- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") announce that KSF has commenced an investigation into the Board of Directors of rue21, Inc. ("rue21" or the "Company) (NASDAQ GS: RUE) in connection with their conduct related to the sale of the Company to funds advised by Apax Partners. Under the terms of the proposed transaction, shareholders of rue21 will receive $42 in cash for each share of rue21 common stock that they own. KSF's investigation is focusing on whether rue21 and/or its officers and directors secured sufficient value for the shareholders of the Company, violated their fiduciary duties, and/or violated state or federal securities laws. If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) or attorney Michael Palestina (michael.palestina@ksfcounsel.com) toll free at 855-768-1857 or via cell phone any time at 504-236-7315. About Kahn Swick & Foti, LLC KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on transactional litigation, as well as securities class action and shareholder derivative litigation. With offices in New York and Louisiana, KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders. To learn more about KSF, you may visit www.ksfcounsel.com. Kahn Swick & Foti, LLCMichael Palestina, Esq., 855-768-1857Cell: 504-236-7315michael.palestina@ksfcounsel.comKEYWORDS:   United States  North America  LouisianaINDUSTRY KEYWORDS:
43 minutes ago
CME Group is staying consistent for the moment in terms of shareholder payouts. The company has declared a dividend for its Q2 of $0.45 per share, to be paid on June 25 to shareholders of record as of June 10. That amount matches CME Gr...
CME Group is staying consistent for the moment in terms of shareholder payouts. The company has declared a dividend for its Q2 of $0.45 per share, to be paid on June 25 to shareholders of record as of June 10. That amount matches CME Group's previous distribution, which was paid at the end of March. The firm has distributed much higher dividends in the past, although much of this is attributable to a five-for-one stock split it effected in the middle of last year. The just-declared payout annualizes to $1.80 per share. That yields 2.8% at CME Group's most recent closing stock price of $64.13.
43 minutes ago
McDonald's is serving up another dividend. The company has declared its latest quarterly payout, which amounts to $0.77 per share. This will be paid on June 17 to shareholders of record as of June 3. That amount matches each of the firm...
McDonald's is serving up another dividend. The company has declared its latest quarterly payout, which amounts to $0.77 per share. This will be paid on June 17 to shareholders of record as of June 3. That amount matches each of the firm's previous two distributions, the most recent of which was handed out in mid-March. Prior to that, it paid $0.70 per share.  McDonald's is, famously, a habitual dividend payer. In recent times, it has tended to lift its payout once every year. Over the past five years, its distribution has risen from $0.375 per share to the present level. The current dividend annualizes to $3.08 per share, yielding just over 3% at the company's most recent closing stock price of $101.03.
43 minutes ago
Utility operator Portland General Electric  announced yesterday its second-quarter dividend of $0.275 per share, a near-2% increase over last quarter's payout of $0.27 per share. The board of directors said the quarterly dividend is paya...
Utility operator Portland General Electric  announced yesterday its second-quarter dividend of $0.275 per share, a near-2% increase over last quarter's payout of $0.27 per share. The board of directors said the quarterly dividend is payable on July 15 to the holders of record at the close of business on June 25. Portland General Electric President and CEO Jim Piro said, "PGE's strong operations, prudent financial management, and focus on delivering value to both our customers and our shareholders makes it possible to provide the seventh consecutive annual dividend increase since going public in 2006." The regular dividend payment equates to a $1.10-per-share annual dividend, yielding 3.5% based on the closing price of Portland General Electric's' stock on May 22. POR Dividend data by YCharts
43 minutes ago
Specialty-foods maker Lancaster Colony  announced yesterday its second-quarter dividend of $0.40 per share, a 5% increase over the $0.38 per share payout it's made the last two quarters. It marks the 200th consecutive dividend payment it...
Specialty-foods maker Lancaster Colony  announced yesterday its second-quarter dividend of $0.40 per share, a 5% increase over the $0.38 per share payout it's made the last two quarters. It marks the 200th consecutive dividend payment it has made putting it in elite company, as only 16 other companies have increased its regular cash dividend each year for 50 consecutive years. The board of directors said the quarterly dividend is payable on June 28 to the holders of record at the close of business on June 10.  Lancaster Chairman and CEO John B. Gerlach, Jr. said, "The board felt that the higher dividend provides an appropriate return of value to shareholders while retaining adequate financial resources to support future growth." The regular dividend payment equates to a $1.52-per-share annual dividend, yielding 1.8% based on the closing price of Lancaster Colony's stock on May 22. LANC Dividend data by YChartsChart reflects a special dividend paid in December, 2012 but does not show the new, higher dividend payment announcement.
43 minutes ago
Dear Apple stock, We first met a long time ago. At first, I was hesitant to buy you. I was relatively new to investing, and you were on a roll. I wasn't sure I could handle such a hot commodity. But eventually, in January of 2010, you w...
Dear Apple stock, We first met a long time ago. At first, I was hesitant to buy you. I was relatively new to investing, and you were on a roll. I wasn't sure I could handle such a hot commodity. But eventually, in January of 2010, you won me over, and I bought in at $200 per share. Since 2001, Apple stock, you've produced wonders galore. It was like you were a master at planning surprise parties—and each one was better than the next. First there was the iPod: 1,000 songs in your pocket -- genius! Then there was the iPhone -- which will surely be the product that historians point to when trying to capture the role of technology in the early 21st century. And then, the real surprise masterpiece: the iPad. Some "professionals" said this would be a failure, but its pretty clear you've proven them wrong. I mean, just look at what the past decade has been like: Source: Apple  Man, 2007 to the end of 2011 -- those were the years, weren't they? Your value went from $84 per share, all the way up to $405. You literally grew like a teenager on steroids, Apple stock: up almost 400%! Do you still have it? If we take a closer look at those last couple of years, though, I've got to wonder if you're losing some of your steam. Sure, Siri was cool, but beyond that, there really hasn't been anything earth-shattering since the iPad came out. That was over three years ago! I guess that all teenagers do end their growth spurts at some time. There's even proof that you're stooping to levels where you're willing to sell yourself for less. The iPad Mini is really just an attempt to compete on price with Amazon's  Kindle Fire. And, let's be honest: Amazon's always been the crafty nerd with patience of a saint, willing to forgo profit for years before realizing it. So, where's the pizazz that captured me, Apple? Where's the next megahit? Will it be an iTV? An iWatch? There's lots of talk, but I haven't really seen any substance lately. I understand that losing Steve Jobs, your role model and leader, was heartbreaking. It was for everyone. But your recent performance leads me to wonder: Is it time for us to break up? Here's where I've been caught for a while: to stick it out, or to part ways? On the one hand, Apple, you aren't the same company or stock that I fell in love with. (Although everyone knows we shouldn't fall in love with stocks, I just couldn't help myself.) On the other, as you've matured, there's something to be said for what you're becoming. No, you won't be the exciting, skyrocketing stock of your youth, but there's a good chance you'll provide the type of stability I'll look for as I get closer to retirement. You've got an ecosystem that's the envy of the world. After I bought my first iPod, I was hooked. Now, my wife and I own six different Apple products. And the switching costs are high -- we've got lots stored on the iCloud, and we love how simple it is to sync all of our gadgets. Then there's all that cash you've collected, and your dividend that could easily go higher for years to come. And finally, there's your price: trading for just 10 times expected earnings in 2013. I think the market has already priced my above concerns into your market value. There's little downside, and lots of stability that you provide. Who knows ... I could be wrong. Maybe you're next "must-have" product is right around the corner. Maybe Jobs left a little (or a lot) of magic in Cupertino that I just can't see. Either way, if that turns out to be the case, it'll just be icing on the cake. So, I'm sticking with you, Apple stock -- for at least another year. You'll remain in my retirement portfolio, and I'm even considering buying more of you for my Roth IRA this month. Is Apple right for you?If you, Foolish investor, are on the fence about what to do with Apple's stock, we've got something to help you out. The Motley Fool's senior technology analyst and managing bureau chief, Eric Bleeker, is prepared to fill you in on reasons to buy and reasons to se
43 minutes ago