American Apparel reports flat second-quarter sales
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American Apparel Inc. reported a bit of good news Thursday: After several quarters of declines, the Los Angeles clothing maker and retailer said sales were flat in its second quarter compared with the same period a year earlier.
The company also said online sales rose 19% and wholesale sales declined 4%. Total sales were $132 million.
Chief Executive Dov Charney said he was pleased with the company’s recent sales momentum. For the month of June, he said, the company saw a 3% increase in sales at stores open at least a year.
‘With a continued emphasis on improving manufacturing efficiency, and despite the effect of cotton price increases, we believe ours will be a story of improving sales,’ he said in a statement. ‘Our focus will be to optimize product mix in stores, the in-store customer experience and the overall profitability of our store base.’
The news helped pushed American Apparel’s stock up 12 cents, or 12.9%, to $1.05.
Separately, major chain stores reported a 6.5% year-over-year increase in June sales on Thursday, beating expectations.
-- Andrea Chang