American Apparel Inc. Announces Preliminary September Sales
American Apparel Inc., a vertically integrated manufacturer, distributor and retailer of branded fashion basic apparel, announced preliminary sales for the month ended September 30, 2012 and reported that total net sales on a preliminary basis increased 10 percent to $51.1 million when compared to the month ended September 30, 2011. Between the same periods, comparable retail and online sales on a preliminary basis increased an estimated 15 percent and wholesale net sales increased an estimated 1 percent. For the quarter ended September 30, 2012, total net sales increased an estimated 15 percent to $162.6 million, comparable retail and online sales increased an estimated 21 percent and wholesale net sales increased an estimated 6 percent.
"We are again pleased with our retail store, direct-to-consumer and wholesale sales," said Dov Charney, chief executive officer and chairman of the board of the Los Angeles-based company. "I'm particularly encouraged by the strength of our full-price business and overall unit sales, and excited that our retail segment growth compares against positive results from the prior year. This past month aligned with our internal expectations, and we anticipate that both our retail and wholesale segments will experience continued sales momentum heading into October and the Holiday selling season. Assuming our sales and EBITDA growth hold through the fourth quarter, we believe that we will be in a position to refinance our existing high cost debt and reduce our cost of capital."
For more information, visit www.americanapparel.net.