Home / Knowledge / News / Apparel/Garments / American Apparel Q4 retail same-store sales up 40%
American Apparel Q4 retail same-store sales up 40%
18
Mar '08
American Apparel Inc is pleased to report its financial results for the fourth quarter of 2007 and for the fiscal year ended December 31, 2007.

American Apparel reported unaudited consolidated net sales for the quarter ended December 31, 2007 of $111.2 million, a 48% increase over sales of $75.1 million for the quarter ended December 31, 2006.

Retail sales increased 85% to $68.3 million for the fourth quarter of 2007 as compared to $37.0 million for the same period in 2006, with same-store sales for stores open at least 12 months rising 40%.

Wholesale sales were $42.9 million for the 2007 fourth quarter as compared to $38.1 million for the 2006 fourth quarter, an increase of 13%. American Apparel ended the quarter with 182 stores, having added 19 net new stores in the period.

Net income for the fourth quarter of 2007 was $3.0 million, or $0.06 per diluted share. Net loss for the fourth quarter of 2006 was $1.5 million, or a loss of $0.03 per diluted share.

The results for the fourth quarter of 2007 include the recognition of a deferred tax benefit of $6.2 million relating to the Company's termination of its status as an S Corporation, which decreased the Company's income tax provision for the period.

Pro forma income, assuming American Apparel had not recognized the deferred tax benefit from the conversion from an S Corporation, would have resulted in net loss for the period of $1.6 million, or a loss of $0.03 per diluted share.

Adjusted Earnings Before Interest, Taxes, Depreciation, Amortization and certain adjustments and exclusions (“Adjusted EBITDA”) equaled $13.3 million for the fourth quarter ended December 31, 2007.

This represents a 56% increase over Adjusted EBITDA of $8.5 million for the three months ended December 31, 2006. The non-cash and other adjustment items in the quarterly comparisons include deferred rent, litigation expenses, business combination expenses not qualifying for capitalization, one-time employee bonuses, workers compensation adjustments, and inventory obsolescence reserves.

These adjustments totaled approximately $4.9 million for the three months ended December 31, 2007 as compared to approximately $3.4 million for the three months ended December 31, 2006.

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

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

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:
May 2017

May 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