American Apparel Inc. announced preliminary sales for the month ended August 31, 2013. Although retail sales increased, total net sales for August 2013 decreased 1 percent to $55.7 million. Wholesale net sales decreased 6 percent for the month.
American Apparel announced preliminary sales for the month ended July 31, 2013. On a preliminary basis, total net sales for July 2013 were $57.6 million, an increase of 5 percent over July 2012. Comparable sales for July 2013 increased 8 percent, including a 6 percent increase in comparable store sales in the retail store channel and a 23 percent increase in net sales in the online channel. Wholesale net sales increased 2 percent for the month.
Los Angeles–based supplier American Apparel Inc. will acquire New York boutique retailer Oak, according to media reports.
The marriage of two very different businesses—Oak serves an influential fashion crowd, and American Apparel looks for wide appeal with its fashion-forward basics—both perplexed and brought cheers from the fashion world and social media.
A statement on Oak’s Twitter page noted that consumers of the two-location retailer were concerned about the direction of the company. “We’re completely committed to maintaining our brand’s vision and are excited for what the future holds,” a statement noted.
American Apparel Inc. announced a $15 million increase in its revolving credit facility with Capital One Leverage Finance Corp. As a part of this transaction, The Bank of Montreal was added as a loan participant and the total commitment under this facility was raised to $50 million from $35 million. The additional commitment was made under substantially the same terms of the existing facility.
Apparel makers large and small are bringing manufacturing back to the U.S. due to the rising labor costs in China and the interests of Americans in USA-made clothing. Long lead times are another problem with manufacturing overseas. An order can be received and filled within two weeks in the U.S., compared to seven or more weeks in China. Margaret Bishop, an industry consultant and adjunct professor at the Fashion Institute of Technology predicts around 200,000 apparel-making jobs will return to the U.S. in the next ten years.
Los Angeles-based American Apparel Inc., a vertically integrated manufacturer, distributor and retailer of branded fashion basic apparel, announced preliminary sales for the month ended June 30, 2013.
American Apparel Inc. announced preliminary sales for the month ended May 31, 2013. On a preliminary basis, total net sales for May 2013 were $55.6 million, an increase of 13 percent over the prior year period. Wholesale net sales increased 22 percent for the month of May on a year-over-year basis.
On May 8, 2013, Los Angeles-based American Apparel Inc. announced financial results for its first quarter ended March 31, 2013.
Eight people were killed Wednesday evening at a garment factory in Bangladesh, two weeks after a separate garment factory collapsed in the country, killing more than 900. Wednesday's fire was caused when acrylic material used to make sweaters somehow ignited. Investigators are looking into how the fabric caught fire.
Dov Charney, CEO of American Apparel, had strong words for his fellow apparel industry peers following the tragic collapse of a textile factory in Bangladesh that left more than 800 dead, calling such outsourced manufacturing "morally offensive" and unsustainable.