UPDATE 1-American Apparel extends CEO Charney's tenure

Clothing and accessories retailer American Apparel Inc announced that its Chairman and Chief Executive Dov Charney has entered into a new employment agreement with the company for an initial term of three years. The term starts on April 1 and will automatically extend for successive one-year periods unless terminated by the company, American Apparel said in a filing. The company has struggled with problems ranging from a long-running sales slump and financial instability to controversies associated with Charney -- its chairman and CEO since 2007 -- who has been in the news over a lawsuit that claimed he kept