American Apparel Inc., bedeviled by turmoil in the executive suite, reported a larger-than-expected loss in its second quarter as the retailer struggled with flat sales and worked to secure fresh credit from borrowers.
The Los Angeles retailer, which ousted founder Dov Charney as chief executive in June, said it lost $16.2 million, or 9 cents a share, for the three-month period.
That's an improvement over last year's second quarter, when American Apparel lost $37.5 million, or 34 cents a share. But the clothing maker said last month in delaying the release of its financial results that it expected to lose $15 million.
Sales were flat at $162.4 million. Sales at stores...