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Stronger than expected American growth

By FashionUnited

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Black Friday is everything but black for the FashionUnited Top 100,

which maintained its rise track up to 1,222.18 on Tuesday, leaving well behind Hang Seng, Dow Jones and the Amsterdam Stock Exchange Index, among others. The major indexes remained sharply lower in late-morning action Tuesday, as tensions in North and South Korea overshadowed a strong USA GDP report and other headlines.

In the same vein, markets enjoyed positive news today after it was released that the U.S. economy grew more than previously calculated in the third quarter, led by stronger consumer spending and fueled by labor income gains that may stoke demand into 2011. The revised 2.5 percent increase in gross domestic product compares with a 2 percent estimate issued last month and a 1.7 percent rise in the second quarter, figures from the Commerce Department showed today in Washington. Consumer purchases rose at the fastest pace since the last three months of 2006.

Despite the sleepy markets, already getting ready for Thanksgiving Holiday, American Apparel has become centre of many discussions within both financial and apparel industries. Last week, Chairman and CEO, 10% Owner of American Apparel Inc Dov Charney, bought 80,000 shares of American Apparel P on 11/18/2010 at an average price of $1.35 a share, after achieving the same amount of titles on previous days. With this strategy the controversial executive has achieved a 9.21% increase for its firm and an outstanding place among the best performances of the day.

In the meanwhile, Foot Locker hit a new 52-Week high of $18.66 so far yesterday, closing with a final gain of more than 10%. Also department stores were in the spotlight on Tuesday, with a shared scene of wins and earnings, led by Macy's, which added 2.23% to $25.64 per share and noticed a stock's jump over 53% year-to-date. Over the past five trading sessions, the stock went up to 4%.

Finally, Lululemon Athletica advanced 2% in above-average volume. The athletic apparel maker is on pace for its third straight day of strong gains in heavy volume, propelling the stock into new high ground.
FashionUnited