Home / Knowledge / News / Apparel/Garments / American Apparel reports fiscal 2007 Q1 same-store sales up

American Apparel reports fiscal 2007 Q1 same-store sales up

Apr '07
Endeavor Acquisition Corp announced that it has been advised by American Apparel that American Apparel will post at least $30 million for the fiscal year ending December 31, 2006 in adjusted Earnings Before Interest, Taxes, Depreciation, Amortization after giving effect to one-time charges (“pro forma adjusted EBITDA”).

Under the terms of the merger agreement, American Apparel was required to demonstrate pro forma adjusted EBITDA of at least $30 million for the fiscal year ending December 31, 2006. This pro forma calculation includes certain one-time adjustments above the original $5 million basket agreed to in the merger agreement to accommodate an approximate one-time $3.5 million inventory obsolescence reserve established in connection with the 2006 audit and proposed merger.

Other one-time charges agreed to in the merger agreement include deferred rent, legal and litigation expenses, and workers' compensation adjustments. Details on the exact amount and composition of the pro forma adjusted EBITDA will be filed along with the 2006 audited financial statements in the Merger Proxy Statement. It is anticipated that the Merger Proxy Statement will be filed in May 2007.

“We look forward to the successful completion of the merger once the proxy statement has been reviewed by the Securities and Exchange Commission and our stockholders vote on the proposed merger later this year,” said Eric Watson, Chairman of Endeavor.

Endeavor also announced that American Apparel had advised it that same-store sales for American Apparel's fiscal first quarter ended March 31, 2007 increased 17%. The company defines same-store sales as sales for stores open for more than one year.

Must ReadView All

Pic: Shutterstock

Textiles | On 25th Oct 2021

China hopes to attract over 1 trn yuan of foreign investment in 2021

China is expected to attract more than $156.51 billion of foreign...

WTO Deputy Director-General Anabel González PIC: WTO

Textiles | On 25th Oct 2021

Digitised logistics services smoothening supply chain operations: WTO

The digitalisation of logistics services, accelerated by the...

Pic: Shutterstock

Textiles | On 25th Oct 2021

Hong Kong to strengthen status as global shipping centre: Minister Li

The Hong Kong Special Administrative Region will strengthen its...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Akram Tariq Khan,

Akram Tariq Khan

E-commerce brand YourLibaas meaning "garment or attire" in Udru, was...

Dhruv Toshniwal & Udit Toshniwal,

Dhruv Toshniwal & Udit Toshniwal

Launched a year ago, Fashions Pvt Limited conceptualises and sees D2C...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Ian Russell, Pireta

Ian Russell

UK-based Pireta has developed a unique free-form process to add durable,...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

October 2021

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

Advanced Search