Home / Knowledge / News / Apparel/Garments / American Apparel CEO pleased with recent sales momentum
American Apparel CEO pleased with recent sales momentum
08
Jul '11
American Apparel Inc, a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced comparable store sales were flat for the second quarter of 2011 versus a decline of 16% reported for the same quarter last year. On an average US dollar basis the Company experienced a 5% increase due to the strength of certain international currencies.

In addition, online sales increased 19% when compared to the same quarter last year and wholesale sales declined 4%. Total sales for the 2011 second quarter were $132 million, essentially flat when compared to the same quarter last year. During the 2011 second quarter, the Company had an average of 256 stores in operation versus an average of 280 stores during the 2010 second quarter.

According to Dov Charney, Chairman and Chief Executive Officer, "We are pleased with recent sales momentum. In the month of June we recorded an increase of 3% in comparable store sales on a constant currency basis. On an average US dollar basis we experienced a 9% increase. Approximately 40% of our stores are located outside the United States.

On April 26, 2011, we announced we received $14.2 million in new capital from a group of private investors led by Canadian financier Michael Serruya and Delavaco Capital. This investment helped stabilize our capital structure and created positive sales momentum through prudent investments in product.

With a continued emphasis on improving manufacturing efficiency, and despite the effect of cotton price increases, we believe ours will be a story of improving sales, improving margins and improving EBITDA. Our focus will be to optimize product mix in stores, the in-store customer experience and the overall profitability of our store base."

Beginning for the third quarter 2011, the Company will report comparable store sales as the combination of sales for its comparable stores and online channel. On this basis, comparable store sales for the second quarter increased 2%, and for June 2011 the increase was 6%.

American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of June 30, 2011, American Apparel had approximately 10,000 employees and operated 254 retail stores in 20 countries, including the United States, Canada, Mexico, Brazil, United Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland, Israel, Australia, Japan, South Korea, and China. American Apparel also operates a leading wholesale business that supplies high quality T-shirts and other casual wear to distributors and screen printers.

American Apparel Inc

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X