Press Release:
LOS ANGELES–(BUSINESS WIRE)–
American Apparel, Inc. (NYSE MKT: APP), a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel, announced preliminary comparable sales for the month ended January 31, 2013, and reported that comparable store sales increased 10%, including a 7% increase in comparable store sales for its retail store channel and a 24% increase in net sales for its online channel. Wholesale net sales increased 14% for the month of January and total net sales increased 11% to $46.4 million.
“We had strong performance this January across all channels – retail, wholesale and online,” said John Luttrell, Executive Vice President and Chief Financial Officer of American Apparel, Inc. “Seeing our momentum carry into 2013 gives us confidence that this will be a strong sales year. Even without relying on additional store openings, our sales could increase by six percent or greater this year,” concluded Luttrell.
“We believe the online segment will grow significantly, driven by technological improvements to our website, coupled with strong demand from our metropolitan adult customer,” said Dov Charney, Chairman and Chief Executive of American Apparel, Inc. “Additionally, it is noteworthy that the imprintable wholesale division of the company is experiencing positive momentum as a result of improved conditions in the ad specialty arena. Increased sales are important to us because we can leverage store and corporate overhead. But more importantly, increased sales allow us to absorb overhead at our factory, which has ample capacity for additional production.”
“Currently, our most profitable stores are in Tokyo, Beijing, London, Sydney and New York,” added Charney. “American Apparel is a brand that appeals in global city centers, and I reiterate that in the long range, we see an opportunity to open hundreds of stores all over the world. In the meantime, our focus is to make our existing business more profitable.”
About American Apparel
American Apparel is a vertically integrated manufacturer, distributor, and retailer of branded fashion basic apparel based in downtown Los Angeles, California. As of January 31, 2013, American Apparel had approximately 10,000 employees and operated 251 retail stores in 20 countries, including the United States, Canada, Mexico, Brazil, United Kingdom, Ireland, Austria, Belgium, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland, Australia, Japan, South Korea, and China. American Apparel also operates a global e-commerce site that serves over 60 countries worldwide at https://www.americanapparel.net. In addition, American Apparel operates a leading wholesale business that supplies high quality T-shirts and other casual wear to distributors and screen printers.
