American Apparel Provides Q4 Business Update

December 08, 2011

American Apparel Inc., Los Angeles, recently provided an update related to the company's fourth quarter sales and other business initiatives.

The company reported that it continues to see improvements in monthly retail sales performance thus far in the fourth quarter. Comparable store sales increased 10% in November 2011, including a 7% increase in retail stores and a 32% increase in online sales. For October 2011, comparable store sales increased 4%, including a 3% increase from retail stores and a 6% increase from online sales. On a quarter-to-date basis through Nov. 30, the company achieved a 6% comparable sales increase, including a 5% increase in comparable sales from retail stores and a 16% increase in online sales. Wholesale net sales were flat quarter-to-date through Nov. 30, a result that was substantially in line with management's expectations. On an overall basis, total net sales increased 7% through Nov. 30.

"We are pleased with the momentum that is building in our core businesses," says Dov Charney, chairman and CEO of American Apparel Inc. "Our retail channels, both in-store and online, are seeing sales growth indicating a revitalized connection to our customer. We are excited about this trend, we feel it is long-lasting, and it is one we can meaningfully build upon. Other positive signs include improved efficiency at our manufacturing facilities, stabilization of world cotton prices and improved profitability at our average retail store."

For more information, visit americanapparel.net. — S.G.



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