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

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: B.Zhou / Shutterstock.com

Retail | On 27th Feb 2020

Retail brands restrict China operations amid COVID-19

The outbreak of COVID-19 is disrupting business dynamics in China....

Interviews View All

Darshan Mehta, Infinium Polychem

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Rikesh Mistry,

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Alexander Foll,

Alexander Foll

Germany-based H Stoll AG & Co KG manufactures flat knitting machines....

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Silke Brand-Kirsch, Schlegel und Partner GmbH

Silke Brand-Kirsch
Schlegel und Partner GmbH

<div>Schlegel und Partner is the market research and consultancy company...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel 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

Leave your Comments


February 2020

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


Advanced Search