August represents our 27th consecutive month of positive comparable store sales growth,” said Dov Charney, Chairman and Chief Executive of American Apparel, Inc. “The 3% comparable sales increase in August is particularly meaningful given that we faced a 25% increase in August last year. We also believe the decrease in estimated wholesale net sales was primarily a timing difference in the placement of month end customer orders and we expect a return to positive sales growth for the wholesale segment in September.”
According to John Luttrell, Chief Financial Officer of American Apparel, Inc., “As previously disclosed, we have had a difficult time cutting over to our new distribution center in La Mirada, CA, yet we have made major progress.
Among other things, we have substantially fixed integration issues with information systems, strengthened our training efforts, and made necessary personnel changes. We are beginning to see light at the end of this tunnel. That being said, in the event there are further integration issues or if there are systems related disruptions in the future, we will most likely incur additional unanticipated costs and reduced sales.”
Dov Charney concluded, ”Although we are disappointed with the lost sales and added costs from these problems, we believe as much today as ever before that once the transition is completed, the new center will improve efficiency for years to come and allow us to accelerate the growth of our retail, online and wholesale businesses.”
| On 25th Jun 2021
Climate change could expose half of cotton-growing regions globally...
| On 25th Jun 2021
Though chatbots are mainly used for customer service, more than half...
| On 24th Jun 2021
Canada and Indonesia recently began negotiations over a Comprehensive ...
India-EU FTA will provide EU with better access to a huge & rapidly...
Fabric selection & recommendation based on client's brief
Donating 20,000 N95 masks to hospitals & NGOs
Established in 2018, Forsarees is a socially driven business enterprise,...
Founded by Chini Chouhan, her eponymous brand specialises in women's...
A part of the Italy based multinational company Artsana Group, Chicco is...
INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...
With forces in engineering and process development, Andritz Nonwoven...
Arevo, based in Silicon Valley in California, develops technology to...
Abhishek Bajaj & Samiksha Bajaj
Samshek is a fashion forward tech brand which combines digital experience...
Megha Kumari & Jigar Mali
Label Megha & Jigar
New Delhi based label Megha & Jigar blends India's unique handcrafts...
Label Seema Gujral
<b>Seema Gujral</b>'s designs for her eponymous label revolve around...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.